COMMONS

Financial Crime and Development

The International Development Committee has finished its inquiry into this topic and produced a report into Financial Crime and Development, the government response was published 27 March 2012

Financial crimes undermine development when public money is diverted from necessary legitimate expenditure programmes in order to enrich private individuals.

BAe was recently convicted of failing to keep proper books and records in relation to the sale of an air traffic control system to Tanzania. It was fined £500,000. BAE agreed to pay an amount representing the balance of the value of the contract (after deducting the fine) for the benefit of the people of Tanzania. That balance amounts to £29.5m.

In addition, there are concerns about the implementation of the Bribery Act 2010.

Terms of Reference when the Committee called for Written Evidence

  • The Committee will undertake a brief inquiry, looking in particular at: 
  • How BAe will ensure that its payment to Tanzania is used effectively for development purposes. 
  • What advice DFID has given to BAe and other bodies about how this money might be used. 
  • Whether the law needs to be changed to ensure that British companies and individuals found guilty of financial crimes in developing countries are always required by the court to make reparations to the developing country concerned.
  • Whether further changes to the Bribery Act 2010 or other legislation are required. 
  • Whether the UK prosecuting authorities have the resources and powers they need to prosecute transnational financial crimes, particularly when there are also criminal proceedings in another jurisdiction in respect of the same issue 
  • How the Government co-ordinates its policy against transnational financial crime.

The deadline for submitting written evidence is Monday 4 April 2010 Written evidence submitted should: 
Be provided electronically in MS Word or Rich Text format by e-mail to indcom@parliament.uk. If submitted by e-mail or e-mail attachment, a letter should also be sent validating the e-mail. The letterhead should contain your full postal address and contact details, Begin with a one page summary if it is longer than six pages, Have numbered paragraphs, Avoid the use of colour or expensive-to-print material.

Submissions can also be sent by post to International Development Committee, House of Commons, 7 Millbank, London, SW1P 3JA. View guidance on giving evidence to Select Committees.

Please also note that:
Material already published elsewhere should not form the basis of a submission, but may be referred to within written evidence, in which case a hard copy of the published work should be included. If a number of published documents are sent to accompany written evidence, these should be listed in the covering email.

  • Written evidence submitted must be kept confidential until published by the Committee, unless publication by the person or organization submitting it is specifically authorised. 
  • Once submitted, evidence is the property of the Committee. The Committee normally, though not always, chooses to make public the written evidence it receives, by publishing it on the internet (where it will be searchable), by printing it or by making it available through the Parliamentary Record Office. If there is any information you believe to be sensitive you should highlight it and explain what harm you believe would result from its disclosure. The Committee will take this into account in deciding whether to publish or further disclose the evidence.
  • It would be helpful, for Data Protection purposes, if individuals wishing to submit written evidence send their contact details separately in a covering letter. You should be aware that there may be circumstances in which the House of Commons will be required to communicate information to third parties on request, in order to comply with its obligations under the Freedom of Information Act 2000.
  • Select Committees are unable to investigate individual cases.

 

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    Glossary

    • Reports and associated evidence – Reports of Committee inquires. This category may also include Special Reports where they are used by a Committee to bring matters relating to conduct of its business to the notice of the House.
    • Responses to Reports - Responses may be published as a Special Report, or as a Command Paper. They may also be appended to a Report should the Committee have substantial comments on the Response, in which case they can be found listed under Reports. 
    • Other oral and written evidence - Evidence taken by the Committee that has yet to or did not result in the publication of a Report. This includes transcripts of recent meetings.
    • Estimate Memoranda - An Estimate memorandum is an explanatory note that accompanies a government department’s estimate (a means by which a department seeks authority from Parliament for its spending plans).
    • Correspondence - Correspondence sent from or received by the Committee or its Chair.