§ Mr. SpellarTo ask the Secretary of State for the Home Department what arrangements have been made with the Governments of the Isle of Man and Jersey to harmonise procedures to prevent money laundering.
§ Mr. Peter LloydThe Isle of Man and Jersey—and Guernsey—have all endorsed the 40 recommendations of the financial action task force against money laundering, established at the G7 summit in Paris in 1989, and have formally agreed to undergo an evaluation exercise, similar to that carried out by the task force in the United Kingdom in 1992, which will submit their anti-money laundering systems to a thorough examination. They have all also issued anti-money laundering notes for guidance to their financial institutions, similar to those issued in the United Kingdom. In addition, all three have criminalised drug money laundering in legislation modelled on the Drug Trafficking Offences Act 1986.