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869437

	registered interest
	date	22/03/2018
	answering body	Attorney General
	answering dept id	88
	answering dept short name	Attorney General
	answering dept sort name	Attorney General
	hansard heading	Money Laundering
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Attorney General, pursuant to the Answer of 20 February 2018 to Question 127856 on money laundering, how many of those businesses have been fined more than once; and what the (a) average, (b) lowest and (c) highest value of those fines was.
	tabling member constituency	Newcastle upon Tyne North
	tabling member printed	Catherine McKinnell
	uin	133951
	answer	answer is ministerial correction date of answer 28/03/2018 answer text <p>The ‎work of the FCA is a matter for HMT. Officials at HMT have advised that in January 2017, the FCA fined Deutsche Bank £163 million, its largest ever financial penalty for AML failings.</p><p> </p><p>All FCA fines levied against businesses are published online. The link to the webpage can be found below:</p><p> </p><p><a href="https://www.fca.org.uk/news/news-stories/2017-fines" target="_blank">www.fca.org.uk/news/news-stories/2017-fines</a></p><p> </p><p>HMT does not hold data on how many firms have been fined more than once, the lowest fine, nor the average value of fines.</p> answering member constituency South Swindon answering member printed Robert Buckland question first answered 28/03/2018 14:53:35 answering member 4106 label Biography information for Sir Robert Buckland previous answer version 49945 answering member constituency South Swindon answering member printed Robert Buckland answering member 4106 label Biography information for Sir Robert Buckland
	tabling member	4125 label Biography information for Catherine McKinnell

874688

	registered interest
	date	29/03/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Money Laundering
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, whether his Department has identified those business sectors in which money laundering occurs most frequently.
	tabling member constituency	Newcastle upon Tyne North
	tabling member printed	Catherine McKinnell
	uin	134989
	answer	answer is ministerial correction date of answer 16/04/2018 answer text <p>The UK’s second National Risk Assessment of money laundering and terrorist financing was published jointly by HM Treasury and the Home Office in October 2017, following the first National Risk Assessment in 2015. These publications provided comprehensive assessments of the money laundering and terrorist financing risks that the UK faces, across all regulated sectors.</p><p> </p><p>The National Risk Assessment advises on which services or products criminal groups are currently exploiting, enabling organisations to strengthen their efforts to protect themselves from these threats. The Assessment found that high end money laundering, the criminal exploitation of services provided by banks and professional groups such as lawyers and accountants, and cash-based money laundering remain the greatest areas of money laundering risk to the UK.</p> answering member constituency Salisbury answering member printed John Glen question first answered 16/04/2018 12:15:55 answering member 4051 label Biography information for John Glen
	tabling member	4125 label Biography information for Catherine McKinnell