Source · Select Committees · Business, Innovation, Science and Trade Committee
Recommendation 16
16
The UK’s long-standing status as a global financial centre is both a crucial economic strength,...
Conclusion
The UK’s long-standing status as a global financial centre is both a crucial economic strength, and a potential vulnerability that must not be overlooked. Inadequate safeguards against sanctions evasion and money laundering risk undermining the effectiveness of the UK’s economic security toolkit. (Conclusion, Paragraph 58)