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Terrorism: Finance

Volume 464: debated on Tuesday 9 October 2007

To ask the Chancellor of the Exchequer what the value of suspected terrorist funds frozen and then unfrozen was in each of the last 10 years for which information is available; and if he will make a statement. (153863)

Since 2001, when the UN's terrorist asset freezing regime was established, 282 accounts totalling approximately £630,000 have been frozen in the UK. Approximately £25,000 has been unfrozen since 20021. The Treasury does not publish a historic breakdown of frozen or unfrozen funds for each year, due to the need to avoid the identification, directly or indirectly, of personal or operationally sensitive information. However, we make quarterly statements to Parliament on the operation of the asset freezing regime.

1 These figures include approximately $58,000 of suspected terrorist funds frozen in the UK and approximately $31,000 of unfrozen funds. This has been converted using current exchange rates. Future fluctuation in the exchange rate may impact on the contribution this sum makes to future totals of suspected terrorist funds frozen.