Uncollected Financial Penalties

Lord Sikka Excerpts

Tuesday 13th May 2025 Lords Chamber

[Lord Ponsonby of Shulbrede (Lab)]

Yes, if I am able to find those figures, I will indeed write to my noble friend.

[Lord Sikka (Lab)]

My Lords, since 2018 only seven unexplained wealth orders were issued, and not a single penny of wealth has been recovered since 2019. This seems to undermine the Government’s offensive against unexplained wealth’s illicit financial flows. Can the Minister explain whether anything has changed since the Criminal Finances Act was introduced in 2017?

[Lord Ponsonby of Shulbrede (Lab)]

I thank my noble friend for that question. The figures he quoted reflect how difficult it is to track down the money when criminals are hiding it. It takes hugely intensive work, and it is something I have personally received presentations on. The issue is one of resourcing to a certain extent, but there is no lack of will to pursue criminals who have unexplained wealth. They need to be tracked down and charged as appropriate.