Draft Proceeds of Crime (Money Laundering) (Threshold Amount) Order 2022 Debate
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John McDonnell
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Draft Proceeds of Crime (Money Laundering) (Threshold Amount) Order 2022
John McDonnell Excerpts(2 years ago)
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John McDonnell (Hayes and Harlington) (Lab)
I just want to place on the record my reservations about this measure. I think lifting the threshold to £1,000 is untoward when we know the scale of fraud that is taking place. I am concerned that minimising the multiple transactions is a way of getting round this. In addition, I am anxious about the flow of intelligence that comes from some of the lower-level frauds that are detected. That could flow into tracing higher-level frauds.