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Money Laundering

Volume 459: debated on Wednesday 2 May 2007

To ask the Chancellor of the Exchequer whether he plans to establish a new unit within HM Revenue and Customs to deal with cases of money laundering. (135251)

HMRC already has units responsible for dealing with money laundering. Action to combat money laundering is an integral part of HMRC’s operational efforts to counter fiscal fraud against the UK's tax and duty systems and to protect the integrity of the UK's frontier controls. In addition, a unit is being created to deal with HMRC’s specific regulatory responsibility relating to the licensing regime that becomes mandatory in December 2007 under the Third Money Laundering Directive.