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Select Committee · Treasury Committee

Economic Crime inquiry

Status: Closed Opened: 28 Mar 2018 Closed: 1 Nov 2019 2 reports
Inquiry scopeReport: Economic Crime - Anti-money laundering supervision and sanctions implementation Report: Economic Crime - Anti-money laundering supervision and sanctions implementations (PDF 995KB) Government response (PDF 236KB) This inquiry will have two strands: one looking at the anti-money laundering and sanctions regime, and one considering economic crime as it affects consumers. The anti-money laundering, counter-terrorist financing and sanctions regimes The Committee would welcome evidence on: The scale of money laundering, terrorist financing and sanctions violations in the UK, and the means by which this activity is enabled The current legislative and regulatory landscape, including any weaknesses in the rules and their enforcement The effectiveness of the Treasury and its associated bodies in supporting and supervising the regimes The impact of the implementation of the current regimes on individuals, firms and the wider economy, including unintended consequences, such as the removal/refusal of financial services from/to individuals or firms The role of financial institutions and/or professional bodies in these regimes The UK’s role in international efforts to tackle money laundering and terrorist financing and implement sanctions Consumers and economic crime In relation to economic crime as it affects consumers, e.g. consumer fraud, the Committee would welcome evidence on: The current legislative and regulatory landscape, including any weaknesses The scale and nature of economic crime faced by consumers, including emerging trends The response of the Treasury and its associated bodies to economic crime consumers face Consumer education, responsibility and vulnerability in relation to economic crime The role and effectiveness of financial institutions in combatting economic crime that consumers face The potential for technology and innovation to assist those committing and combatting economic crime The security of consumers’ data

Reports

2 reports

Oral evidence sessions

11 sessions

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Date Session and witnesses Source
15 May 2019 No witnesses recorded View ↗
2 Apr 2019 No witnesses recorded View ↗
13 Feb 2019 No witnesses recorded View ↗
8 Jan 2019 No witnesses recorded View ↗
27 Nov 2018 No witnesses recorded View ↗
30 Oct 2018 No witnesses recorded View ↗
10 Oct 2018 No witnesses recorded View ↗
9 Oct 2018 No witnesses recorded View ↗
4 Jul 2018 No witnesses recorded View ↗
19 Jun 2018 No witnesses recorded View ↗
15 May 2018 No witnesses recorded View ↗

Correspondence

6 letters

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PublishedDirectionLetter
22 Oct 2019 To committee Letter from the Economic Secretary to the Treasury, related to Committee report Economic Crime - 17 October 2019
12 Feb 2019 — Payment Systems Regulator to Chair re Update on APP Scams
30 Oct 2018 — Correspondence from the Director of Specialist Supervision of the Financial Conduct Authority to Chair relating to Staff and Budget, dated 19 October 2018
30 Oct 2018 — Correspondence from the Parliamentary Under-Secretary of State to BEIS to Chair relating to Companies House, 22 October 2018
30 Apr 2018 To committee Letter from Jon Thompson, Chief Executive HMRC, regarding HMRC's approach to cooperating with international partners, 27 April 2018
25 Apr 2018 From committee Letter to Jon Thompson, Chief Executive & Permanent Secretary HMRC, regarding Lycamobile, 23 April 2018