Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the effectiveness of due diligence checks on politically exposed persons undertaken by financial institutions in the United Kingdom.

The Government is clear that the enhanced due diligence requirements contained in the Money Laundering Regulations in relation to politically exposed persons provide valuable, actionable intelligence on those who would seek to abuse their positions, including hostile states and organised criminals. This helps to protect the UK from money laundering and corruption.