Criminal Finances Bill (Fourth sitting) Debate
Full Debate: Read Full DebateNicholas Dakin
Main Page: Nicholas Dakin (Labour - Scunthorpe)Department Debates - View all Nicholas Dakin's debates with the Home Office
(7 years, 9 months ago)
Public Bill CommitteesThe Minister is explaining the need for the amendments. Will he explain exactly what difference the proposed changes will make to the accreditation? How will it compare with what it would otherwise have been?
As I said earlier, terrorist financing often happens much more in real time. It is not about someone banking their asset to enrich themselves; it is about funding an operation. There will therefore be different requirements for these financial investigators. They will almost be chasing the money as they go, often to stop an operation that is about to happen—someone may be about to book a plane ticket and we may need that stopped—so they will need a different skill set from a normal accredited financial investigator. That is one fundamental difference; another relates to the different approaches that the Bill takes to terrorist financing and to criminal financing. There is a difference between enriching oneself and funding an act of terror.
Amendment 16 agreed to.