UK: HOUSE OF COMMONS FOREIGN AFFAIRS COMMITTEE ANNOUNCES THE LAUNCH ON ITS INQUIRY ON RESPONDING TO ILLICIT AND EMERGING FINANCE

On 1 February, a news release announced that the inquiry will explore the “significant challenges” to the global economy, which contribute to corruption and insecurity.  These challenges include vast flows of dirty money across borders – which, as laid bare by the Panama and Pandora Papers, the UK and the Overseas Territories can play a role in facilitating. The inquiry will also consider fintech innovations, such as cryptocurrency and central bank digital currencies (CBDC), which raise fundamental questions about how the emerging global digital economy will work, challenging international norms and standards.

https://committees.parliament.uk/committee/78/foreign-affairs-committee/news/160652/foreign-affairs-committee-launches-dirty-money-inquiry/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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