BCL partner, John Binns speaks to Edward Fennell at The Times to discuss the new Economic Crime Strategic Board (ECSB), which aims to rapidly reduce the volume of fraud, bribery, corruption and money laundering in the UK.
Philip Hammond, the chancellor, and Sajid Javid, the home secretary, jointly chair the first meeting of the new Economic Crime Strategic Board (ECSB), which aims to spearhead the war on financial crime.
Below is a short excerpt from the article* that can be found in full on The Times website.
'While some critics see the board as window-dressing to disguise a lack of resources in battling an increasing volume of fraud, bribery, corruption and money laundering, others say that it marks a significant step up in the government's determination to get to grips with a growing threat to business and individuals alike, which is thought to cost more than £14 billion a year.
"Having two prominent cabinet ministers on the board sends out a signal that the government is now taking financial crime seriously at the highest levels," says John Binns of BCL Solicitors. "It's definitely a notch-up in commitment and is a new and interesting approach. It says that the government wants to improve the level of co-operation between all parties involved." '
*This article was first published by The Times on 24th January 2019. Full details can be found here.
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