LONDON (Reuters) - Britain will work with the financial industry to crack down on fraud, corruption and dirty money by launching a task force that will include senior banking figures, the finance ministry said on Monday.
The chief executives of Santander, Lloyds and Barclays banks will be among members of the Economic Crime Strategic Board, which will consider where further resources are needed to tackle offences such as bribery and money laundering.
“We need to take action on all fronts to target the corrupt fraudsters who are lining their pockets with dirty money and living luxury lifestyles at the expense of law-abiding citizens,” said interior minister Sajid Javid, who will jointly chair the task force with finance minister Philip Hammond.
An estimated 14.4 billion pounds ($18.50 billion) worth of economic crime is committed every year, a Treasury statement said.
Britain has already introduced Unexplained Wealth Orders to combat the proceeds of suspected corruption by freezing and seizing them.
The first target of these powers was made public last year when they were used against the wife of a jailed Azeri banker who spent more than 16 million pounds ($20.5 million) at London’s luxury department store Harrods.
The National Crime Agency received a record number of suspicious activity reports (SARs) in 2017-2018, registering a 10 percent increase on the previous year.
Officials say they are focused on cracking down in particular on money from Russia, Nigeria, former Soviet states and Asia.
“The UK is leading the world in the fight against illicit finance,” Hammond said. “We know more can be done.”
About 92 News HD Live Main TV Channel of Pakistan:
92 News (also known as 92 News HD Plus (Channel 92) is a conservative Urdu language TV channel based in Lahore, Pakistan.
Mian Muhammad Hanif is the chairman of the channel.
This TV channel is a subsidiary of Madinah Group under Galaxy Media Group.
The channel's name, 92, is to celebrate the 1992 Cricket World Cup won by Pakistan. The number 92 is also the telephone country calling code of Pakistan, which is another major reason behind the channel's name.
92 News HD is Pakistan’s first HD Plus News Channel. Aims to bring credible & responsible News & important stories from Pakistan & around the World
We bring you Latest Pakistani and International News at 92 News Hd Plus to Read and Watch
We believe in genuine and true journalism, we do not prevail sensation just for ratings.
We do not hide news but never tend to add any unethical content or angling that goes against the norms of our religion Islam and Pakistan's culture.
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آپ کسی بھی وقت دائیں طرف نیچے بیل آئیکن پر صرف ایک کلک کے ذریعے آسانی سے سبسکرائب کر سکتے ہیں۔