§ Mr. RathboneTo ask the Chancellor of the Exchequer, pursuant to his answer of 13 May,Official Report, columns 23–24, how many reviews of control system and accounting records in money laundering related areas of banks or other financial institutions, have been undertaken; what have been the conclusion of such reviews; and what action has been taken in light of this.
§ Mr. MaplesTo date there have been some 160 reports on systems and controls related to money laundering commissioned under section 39 of the Banking Act 1987 as part of a rolling programme of identifying and prioritising particular areas of supervisory interest. Banks generally appear to have appropriate systems in place and have, in particular, been helped in formulating and implementing such systems by the publication at the end of last year of the guidance notes on money laundering for banks and building societies.