Money Laundering

Meeting: 
MQT on 2015-06-17
Session date: 
June 17, 2015
Reference: 
2015/1856
Question By: 
Murad Qureshi
Organisation: 
Labour Group
Asked Of: 
The Mayor
Category: 

Question

In light of the recent FIFA arrests, what is the Met doing about money laundering in London, given the potential for ill-gotten gains of global corruption to find their way to the capital?

Answer

Answer for Money Laundering

Answer for Money Laundering

Answered By: 
The Mayor

Currently the MPS has 235 officers dedicated to investigating money laundering and asset recovery work within London. Money laundering investigations are not limited to these officers. Many other investigations take place across the MPS into money laundering allegations.

The MPS utilise the Proceeds of Crime Act 2002 to tackle the offences and are committed to working in partnership both nationally and internationally to prosecute those involved and remove assets obtained by criminality (working with NCA, FCA, HMRC and business).

In the 2014/15 year the MPS seized or confiscated approximately £66m from those convicted of criminality. A significant amount of this is linked to Money Laundering.