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Lord Wallace of Saltaire (LD)

Speaking in the House of Lords on 14 September 2026

Debate

International Financial Fraud

Contribution

I am glad that the British Government are taking the lead in combating international financial fraud and money laundering, particularly now that cryptocurrency and its problems are so much in our minds. I note that one of the Government’s priorities as president is improving information sharing. The British Government are responsible for a large number of Crown dependencies and overseas territories, many of which are offshore financial centres. They do not share information fully, and I note that the British Virgin Islands, for example, are on the FATF’s grey list, which deals with countries with strategic deficiencies in efforts to prevent fraud and money laundering. What do the Government intend to do to make sure that our leadership against financial fraud includes making sure that our overseas territories and Crown dependencies are up to the mark?

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