Oral Answers to Questions

Debate between Chris Davies and Ben Wallace

Monday 21st January 2019 Commons Chamber

[Chris Davies (Brecon and Radnorshire) (Con)]

12. What steps he is taking to tackle economic crime.

[The Minister for Security and Economic Crime (Mr Ben Wallace)]

The Government have concentrated on bringing law enforcement together alongside regulators to focus ruthlessly on tackling dirty money and economic crime. In the next 18 months, we will invest over £48 million to bolster capabilities, including in the establishment of the National Economic Crime Centre.

[Chris Davies]

Does my right hon. Friend agree with me that, by bringing together specialists across both the public sector and the private sector to tackle this, we can use the best of our experience to maintain our status as a global financial centre?

[Mr Wallace]

Yes, I agree with my hon. Friend. It is in all our interests to ensure that our financial sector and country tackle financial crime. The global scale of it demands that all of us play our part to burden-share, which is why the serious and organised crime strategy last year specifically committed to ensuring the widest response from both Government and the private sector.