Member

8: After Clause 7, insert the following new Clause— “Compensation for victims of fraud and other economic crimes(1) The Secretary of State must, within six months of the passing of this Act, report to Parliament the findings and recommendations of a review of victims of fraud, bribery and money laundering offences.(2) The purpose of the report under subsection (1) is to inform Parliament how the Secretary of State will provide for victims of such economic crimes to be compensated without such victims needing to pursue civil action.(3) The Secretary of State must conduct a public consultation on the review, the terms of which must be published no later than 1 June 2026, and which must open on that date and close on 1 September 2026.(4) In this section “victims of economic crime” includes United Kingdom and overseas victims of complex corruption cases where the harm caused by the offending is not easily quantifiable.” Member’s explanatory statement This new clause requires a review to explore how domestic and overseas victims of fraud, bribery and money laundering offences could be better compensated without the need for civil proceedings to recover their losses or compensation and for the Secretary of State to report his conclusions to Parliament without undue delay.