Money Laundering and Terrorist Financing (High-Risk Countries) (Amendment) Regulations 2023

Jake Berry Excerpts

Monday 10th July 2023 General Committees

[Sir Jake Berry (Rossendale and Darwen) (Con)]

The Minister will be aware that this issue goes way beyond the challenges with bank accounts. Members of this House or the other place could be involved in other transactions—for example, with an estate agent, or they may be the director of a company. I draw Members’ attention to my declaration in the Register of Members’ Financial Interests. The politically exposed person money laundering regulations go well beyond people seeking to open a bank account. Will the Minister commit to ensuring that when the Government do the review, they will look beyond simply whether Members can open an bank account, and at the wider implications of the politically exposed person test in general money laundering regulations?

[The Chair]

Order. I will allow a brief response from the Minister, but I remind hon. Members that we are here to debate the changes to legislation relating to money laundering, not politically exposed persons.

[Sir Jake Berry]

That is exactly what my question was about—the anti-money laundering regulations.

[The Chair]

Order.