Ukraine

Baroness Ludford Excerpts

Thursday 24th February 2022 Lords Chamber

[Baroness Evans of Bowes Park (Con)]

I thank the noble Lord. He has huge expertise in this area and speaks with great authority. He is absolutely right. Russia’s assault on Ukraine is an unprovoked, premeditated attack against a sovereign, democratic state. As we have discussed in this House in recent weeks, the Russian Government have repeatedly denied their hostile intent towards Ukraine. At the same time, they have amassed troops, launched cyberattacks and staged false pretences and provocations. As the Statement made clear, unfortunately, the Russian Government seem to have shown that they were never serious about engaging in diplomacy. I thank the noble Lord for his comments. I entirely agree with him.

[Baroness Ludford (LD)]

My Lords, when we eventually get the economic crime Bill, it and other similar legislation will be welcome, but critics would say that the challenge is enforcement. Do the Government plan to boost the resources of bodies such as the National Crime Agency, the Serious Fraud Office, HMRC and the Financial Conduct Authority to allow them to crack down on the abuses we see in London and the UK?

There is a very good article in the Telegraph today which reminds us that it is not just cash that is being invested in Londongrad:

“Russian reputations have also been polished, courtesy of London-based PR and libel law firms to whom the oligarchs pay generous fees”


to protect both their image and the Kremlin’s. Specifically, will the Government tackle the abuse of libel laws to stop this crushing of free speech and criticism?

[Baroness Evans of Bowes Park (Con)]

I thank the noble Baroness. Before I answer her points, I should say that I was a bit out of touch. It looks as if the football tournament has already been moved. I was not aware of that. This is good news. I hope that my noble friend is pleased.

As the Statement mentioned, we are setting up a new, dedicated combating kleptocracy cell within the National Crime Agency. We have ensured that it is staffed with both the resources and the people it needs to do its important work. We have done a lot in this area. For instance, the Criminal Finances Act 2017 has allowed us massively to step up our recovery of criminal assets. We seized £1.3 billion between April 2015 and 2021. We have also conducted around 7,900 investigations. There have been 2,000 prosecutions and 1,400 convictions annually for stand-alone money laundering or where it was the principal offence. Our record shows that we are committed to putting money into this area. We have also committed £400 million to tackling economic crime during the next three years through our new anti-money laundering levy.