HC Deb 27 April 2004 vol 420 c967W
Huw Irranca-Davies

To ask the Secretary of State for Foreign and Commonwealth Affairs what support the Government give to efforts to tackle money laundering in the Gulf States. [168571]

Mr. Rammell

The Government support international efforts to counter money laundering, in the Gulf as elsewhere, through our membership of the Financial Action Task Force (FATF). The FATF sets the international standards on anti-money laundering measures and monitors members' progress in implementing the necessary measures through a process of mutual evaluation.

We welcome the positive steps taken recently by the Gulf States, and others in the region, to establish a FATF-style regional body. If approved by political leaders, this will include all Gulf States in a FATF-style process and will allow for greater regional ownership of anti-money laundering efforts.

The Government also provide financial and technical assistance on a bilateral basis. In March this year, we provided an independent expert to take part in a joint IMF-World Bank financial sector report on the UAE.