Money Laundering: Politically Exposed Persons
The question
To ask the Chancellor of the Exchequer, how many non-domestic politically exposed persons have been prosecuted since the amendment to the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 became operational in January 2024.
Answered by Tulip Siddiq
The Ministry of Justice holds prosecution statistics; however, these statistics are not separated by the status of individuals as politically exposed persons (PEPs).
The enforcement of the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017, as amended, is carried out by various supervisory authorities such as the FCA. This includes actions in relation to regulatory failings involving non-domestic PEPs where applicable.
The FCA is in the process of updating its guidance on PEPs to reflect the changes made by The Money Laundering and Terrorist Financing (Amendment) Regulations 2023. The FCA’s revised guidance will be published in due course.
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