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Money Laundering

Volume 495: debated on Monday 6 July 2009

To ask the Chancellor of the Exchequer what recent discussions his Department has had with the Financial Action Task Force on the proposals made by the G20 leaders to improve the processes for compliance by jurisdictions with anti-money laundering and combating financial terrorism standards. (284267)

HM Treasury leads the UK delegation to the Financial Action Task Force (FATF). At its last plenary session on the 24-26 June 2009, the FATF agreed changes to its procedures for dealing with jurisdictions whose anti-money laundering and countering the financing of terrorism regimes present a risk to the global financial system. It also agreed a written report to be submitted to the G20 leaders’ summit in September.