MPs exempt from anti-money laundering checks - 19th Apr 2016 8:35pm
George Osborne agrees to exempt MPs from anti-money laundering checks under pressure from Tory backbencher
George Osborne has agreed to make MPs exempt from anti-money laundering checks under pressure from moaning Tory backbenchers.
Tory MP Charles Walker claimed MPs and their families were being treated like "African despots".
MPs appear on automatic watch lists of "Politically Exposed Persons" (PEP), used by banks to prevent money being funnelled into criminal gangs or hidden in offshore tax havens.
It means MPs and their families could be subject to extra checks on their bank accounts.
Ministers will now move to exclude MPs from the watch lists in the forthcoming Bank of England bill.
Mr Osborne caved under pressure from influential Tory backbencher Charles Walker, who has been pressing for the change for some months.
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George Osborne has agreed to make MPs exempt from anti-money laundering checks under pressure from moaning Tory backbenchers.
Tory MP Charles Walker claimed MPs and their families were being treated like "African despots".
MPs appear on automatic watch lists of "Politically Exposed Persons" (PEP), used by banks to prevent money being funnelled into criminal gangs or hidden in offshore tax havens.
It means MPs and their families could be subject to extra checks on their bank accounts.
Ministers will now move to exclude MPs from the watch lists in the forthcoming Bank of England bill.
Mr Osborne caved under pressure from influential Tory backbencher Charles Walker, who has been pressing for the change for some months.
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