TRUSTPOLITICS
B

Baroness Anderson of Stoke-on-Trent (Lab)

Speaking in the House of Lords on 14 September 2026

Debate

International Financial Fraud

Contribution

The noble Lord raises an important point. The overseas territories and Crown dependencies are committed to meeting international standards on tax transparency, anti-money laundering and illicit finance. They have committed to introducing publicly accessible registers of beneficial ownership, going beyond international standards set by the Financial Action Task Force and putting them ahead of most jurisdictions. The UK Government respect their constitutional autonomy on domestic tax matters while supporting the implementation of these commitments, including through technical assistance and engagement with organisations such as Open Ownership. The overseas territories and Crown dependencies are also independent members of FATF and therefore are subject to those standards that are set out. They have committed to combating financial crime in their relevant jurisdictions.
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