Osborne Exempts “Politically Exposed Persons” From Money Laundering Checks

MPs complained earlier this year that they are being hounded “like African despots” following anti-money laundering checks from banks like HSBC. These checks are designed to ensure money isn’t being funnelled into criminal gangs or other corrupt arrangements. Charles Walker was furious that MPs and their families are on the list of “Politically Exposed Persons”, the automatic anti-money laundering watch list used by banks:

“It is ridiculously heavy-handed for banks to treat British MPs and their families in this aggressive way. They should be targeting crooked despots and dictators, not MPs’ grannies.”

Because politicians’ family members would never be involved in anything dodgy…

George Osborne this afternoon accepted an amendment to the Financial Services Bill which will see some Politically Exposed Persons and their families exempted from these anti-money laundering rules. Ministers will now “exclude… specified categories of persons” from the list of so-called PEPs, as Osborne says it is “disproportionate” for banks to include MPs and relatives on the watch list. Mossack Fonseca will be able to whisk MPs and their families through the account opening process…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Michael Gove delivering Brexit for pets…

“I want to make sure Brexit delivers not just for the British people, but for animals too.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
McDonnell’s Favourite Asset Manager Operates Offshore McDonnell’s Favourite Asset Manager Operates Offshore
Five More Years of Kay Five More Years of Kay
Tricky Start in Brussels Tricky Start in Brussels
Indy Retracts Animal Sentience Story Indy Retracts Animal Sentience Story
Viral Animal Sentience Fake News Story Seen by Two Million Viral Animal Sentience Fake News Story Seen by Two Million
Labour Suspends Ivan Lewis Labour Suspends Ivan Lewis
IPSO Clears Kavanagh Column IPSO Clears Kavanagh Column
Corbynistas’ Shameful Milosevic Defence Corbynistas’ Shameful Milosevic Defence
Stella’s Fake News Stella’s Fake News
McDonnell Asked 8 Times How Much Labour Would Spend Servicing Debt McDonnell Asked 8 Times How Much Labour Would Spend Servicing Debt
Tax Cuts in The Budget Tax Cuts in The Budget
Corbyn Goes Shouty Crackers Corbyn Goes Shouty Crackers
OBR: Hammond’s Budget Rabbit Will Increase House Prices OBR: Hammond’s Budget Rabbit Will Increase House Prices
Hammond’s Banter Budget: All The Jokes Hammond’s Banter Budget: All The Jokes
Watch: Corbyn’s Black Rod Message Backfires Watch: Corbyn’s Black Rod Message Backfires
Budget Pic Budget Pic
Putin: Alex Salmond is Not a Kremlin Propagandist Putin: Alex Salmond is Not a Kremlin Propagandist
Gilbert and George Come Out as Brexiteers Gilbert and George Come Out as Brexiteers
Rudd Missed Key Brexit Vote Last Night Rudd Missed Key Brexit Vote Last Night
Top Corbynista Compares Mugabe to Queen Top Corbynista Compares Mugabe to Queen