International Financial Fraud Debate

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Department: Northern Ireland Office

Lord Sikka

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Introduction: Lord McTague

International Financial Fraud

Lord Sikka Excerpts

Public Sector Fraud Authority
Monday 14th September 2026

(1 month, 1 week ago)

Lords Chamber
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Baroness Anderson of Stoke-on-Trent Portrait Baroness Anderson of Stoke-on-Trent (Lab)
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I appreciate the noble Baroness’s expertise in this area and, while I understand her concerns, the Government do not share them. We have invested a significant amount, not least through the economic crime levy, to protect against AML, which includes an extra £110 million per annum.

Lord Sikka Portrait Lord Sikka (Lab)
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My Lords, according to a former Minister, 40% of global illicit financial flows pass through the UK, its Crown dependencies and overseas territories. Can the Minister explain why UK Governments continue to fail to curb the flow of illicit financial funds?

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