Written question asked by Anneliese Dodds (Labour) on Tuesday, 25 June 2019, in the House of Commons. It was due for an answer on Monday, 1 July 2019 (named day). It was answered by John Glen (Conservative) on Monday, 1 July 2019 on behalf of the Treasury.

Economic Crime

Question: To ask the Chancellor of the Exchequer, what role the chief executive officers and chief executives from (a) Barclays, (b) Lloyds and (c) Santander will perform in determining the UK’s operational response to economic crime.

Answer

The Economic Crime Strategic Board’s membership comprises senior representatives from the organisations – in both public and private sectors – most critical to tackling economic crime. This includes representatives from government departments, law enforcement, regulators and the banking, legal, accountancy and real estate sectors. The decision to have private sector representation reflects the regulated sector’s role as the first line of defence against economic crime.

The Board sets priorities, directs resources and scrutinises performance against the economic crime threat. It does not perform any role in determining regulators’ or law enforcement’s operational response to economic crime.

Civil society and academic institutions have been consulted in the development of the Economic Crime Plan, a draft of which will be considered at the Board’s next meeting on 10th July. Following publication of the Plan, the government will be reviewing the overall governance for economic crime. This review will consider how civil society should be best engaged.

Secondary information

Type: Written question
Reference: 269132
Session: 2017-19
Grouped for answer: Yes
Subjects: Barclays Managers Lloyds Bank Santander Group Economic crime
Link: View this Written question on www.parliament.uk

Economic Crime

Secondary information

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