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UK Parliament · Bill

Economic Crime (Transparency and Enforcement) Act 2022

Summary

This Act aims to tackle economic crime and money laundering in the UK by increasing transparency about who really owns property and companies, and speeding up the process of freezing and confiscating assets belonging to criminals and corrupt individuals. It focuses particularly on preventing Russian and foreign oligarchs from using the UK to hide illegal money.

A vote to support means

  • Supporting this Act means backing efforts to crack down on financial crime and corruption, particularly by targeting dirty money from foreign sources. It helps protect the UK by making it harder for criminals and corrupt officials to hide their wealth through property purchases and secret ownership structures.

A vote to oppose means

  • Critics worry the Act could be too slow to implement, create extra red tape for honest businesses, and may not go far enough to catch wealthy criminals. Some also question whether it gives enough protection to people's privacy and whether the government has the resources to enforce it properly.

Cast Your Vote

People's Vote0 votes
0% Support · 00% Oppose · 0
Parliament's Vote534 MPs
44% Ayes · 23456% Noes · 300

Bill Passage

Commons

  • 1st reading1 Mar 2022
  • 2nd reading7 Mar 2022
  • Committee stage7 Mar 2022
  • Report stage7 Mar 2022
  • 3rd reading7 Mar 2022

Lords

  • 1st reading8 Mar 2022
  • 2nd reading9 Mar 2022
  • Committee stage14 Mar 2022
  • Report stage14 Mar 2022
  • 3rd reading14 Mar 2022
Royal Assent14 Mar 2022
Full Bill Description(click to expand)

No description available