§ Mr. DalyellTo ask the Minister for the Cabinet Office what proposals she has put forward to the Treasury, the Home Office and the Foreign and Commonwealth Office to deal with the problem of anonymous numbered bank accounts held by drug dealers in(a) Great Cayman, (b) the Virgin Islands, (c) the Bahamas, (d) Bermuda, (e) Luxembourg, (f) Switzerland, (g) Belize and (h) the City of London. [106581]
§ Mr. Ian McCartneyThe Government actively support international initiatives to improve anti-money laundering standards worldwide, including measures to prevent the laundering of the proceeds of drug trafficking. In particular, 163W we support and contribute to the work of the Financial Action Task Force on money laundering, the leading international body responsible for setting and enforcing effective international standards. The prohibition of anonymous accounts is an important element of these standards.
UK financial institutions are required by the Money Laundering Regulations 1993 to establish the identity of their customers and, under the Financial Services and Markets Bill, the Government are significantly enhancing the UK's efforts to enforce anti-money laundering standards.