MBaer Merchant Bank
The question
To ask the Chancellor of the Exchequer, what assessment her Department has made of the implications for its policies of evidence from the US Treasury's Financial Crimes Enforcement Network published on 2 March 2026 that UK resident individuals may have laundered the proceeds of corrupt oil sales in Venezuela through MBaer Merchant Bank.
Answered by Lucy Rigby
The Government is committed to protecting the UK’s financial system and maintaining a robust anti-money laundering and counter-terrorist financing system. This involves identifying risks to the system, monitoring global developments, and working with international partners.
The Government does not comment on assessments relating to specific firms. Where appropriate, the Government will act in response to individual cases and risks identified.
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