Question to the HM Treasury:

To ask Her Majesty's Government what steps they are taking (1) to tackle economic crime, and (2) to prevent fraudulent companies from accessing public funds.

The Government has set out a comprehensive programme for addressing economic crime with the private sector through the jointly published Economic Crime Plan.

The Government is making measurable progress in delivering the Economic Crime Plan and is on course to deliver 49 of the 52 actions it sets out. The Government published a Statement of Progress in May 2021 updating the public and stakeholders on the Plan’s implementation.

The steps taken to prevent fraudulent companies accessing public funds depend on the nature of the public funding. Common due diligence approaches include Spotlight, the government’s online automated due-diligence tool, fraud prevention data analytics, and Credit Reference Agency due diligence services.