Legal Profession: Money Laundering

(asked on 28th February 2022) - View Source

Question to the Home Office:

To ask the Secretary of State for the Home Department, what estimate she has made of the number of law firms potentially involved in money laundering by people or organisations linked to the Russian Government.


Answered by
Damian Hinds Portrait
Damian Hinds
Minister of State (Education)
This question was answered on 10th March 2022

We are well aware that individuals with links to the Russian state may seek to further their reputation and influence within the UK through strategic investments. We continue to look in close detail at the nature of these relationships and the individuals or entities, including law firms, who facilitate corrupt elites.

All legal professionals offering services which may be abused to enable money laundering or terrorist financing are required to comply with the Money Laundering Regulations 2017 (MLRs), and must be supervised to ensure their compliance by one of the 9 Professional Body Supervisors (PBSs) for the legal sector in the UK.

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