Written question asked by Lord Rosser (Labour) on Tuesday, 24 October 2017, in the House of Lords. It was due for an answer on Tuesday, 7 November 2017. It was answered by Baroness Williams of Trafford (Conservative) on Monday, 6 November 2017 on behalf of the Home Office.
Undocumented Migrants: Financial Services
- Question
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To ask Her Majesty's Government what is the average cost to banks and building societies of undertaking status checks on individuals under the terms of the Immigration Act 2014; and what would be the cost to the Home Office of undertaking those same checks.
- Answer
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The Government’s Impact Assessment sets out estimated costs for both the Home Office and banks and building societies and is published on the gov.uk website. Costs for each bank and building society will vary depending on the business model of a particular institution; however, the primary cost of the measures was due to the process changes banks and building societies needed to make to ensure they could correctly undertake the requirements set out in the Act.
The Government has sought to ensure that the banking measures in both the 2014 and 2016 Immigration Acts avoid imposing undue burdens on industry, and will not impact on those individuals who want to legitimately open a current account.
Secondary information
- Type
- Written question
- Reference
- HL2476
- Session
- 2017-19
- Subjects
- Costs Banks Building societies Undocumented migrants
- Legislation
- Immigration Act 2014
- Contains statistics
- Yes
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2017-11-13 11:23:16 +0000
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/lords/2017-19/HL2476
- In Indexing
- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/writtenparliamentaryquestion/lords/2017-19/HL2476
- In Solr
- https://search.parliament.uk/claw/solr/?id=http://data.parliament.uk/writtenparliamentaryquestion/lords/2017-19/HL2476