To ask the Secretary of State for the Home Department, if she will place in the House of Commons Library the presentation made to the Economic Crime Strategy Board in February 2021 relating to five investment packages to transform the response to economic crime.
21 September 2021
In February 2021, the Economic Crime Strategy Board were asked to approve a joint set of public-private priorities for Financial Year 2021 which built on the commitments set out in the Economic Crime Plan (2019). These included:
- Improve the effectiveness and efficiency of the whole system response to economic crime, increasing high value intelligence to law enforcement and reducing low value activity that costs business and delivers little benefit
b. Design and deliver a comprehensive Fraud Action Plan
c. Bolster public private operational action to tackle known vulnerabilities, including cash-based money laundering, abuse of Money Service Businesses, and abuse of Trust and Company Service Provider
d. Continue to deliver SARs reform, including the next stages of the rollout of the new IT infrastructure and the increase in UK Financial Intelligence Unit staffing
e. Finalise the Sustainable Resourcing Model to support economic crime reform
f. Develop legislative proposals to tackle fraud, money laundering, seize more criminal assets, and to strengthen corporate transparency (e.g. Companies House Reform)
g. Capitalise on the G7 Presidency to strengthen the overall international response to illicit finance and anti-corruption.
Further information about investments in Economic Crime will be publicly available once the Spending Review 2021 settlement and departmental budget allocations have been agreed with HM Treasury.