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Call for evidence

Economic crime

Terms of Reference

In the previous Parliament, the then Treasury Committee undertook an inquiry into Economic Crime, which looked at the UK’s anti-money laundering systems and sanction implementation systems, as well as the impact of economic crime from a consumer perspective. It reported separately on both streams.

Following on from that work, the current Treasury Committee has decided to review what progress has been made in combatting economic crime.

It would therefore welcome written evidence on the following as regards the UK’s anti-money laundering and sanctions regimes, and economic crime affecting consumers:

• Concerns regarding or improvements to the UK’s anti-money laundering and the sanctions regimes, including but not limited to:

o The work of OPBAS and the profession body AML supervisors

o The impact of the FinCEN papers

o Corporate liability for economic crime

o The work of Companies House

• Consumers and economic crime, including but not limited to:

o Any emerging trends in consumer facing economic crime as a result of the COVID crisis

o The operation of the Contingent Reimbursement Model for Authorised Push Payment Fraud

o The response of financial institutions to economic crime as it affects consumers

Those submitting written evidence may find it useful to consider the previous Treasury Committee’s Reports on Economic Crime.

Those responding should note that the Committee will not take up individual cases, and any suspected criminal activity should be reported to the appropriate authorities.

The deadline for evidence submissions is 5pm on Friday 27 November.