Barking MP forces government to crackdown on money laundering in British Overseas Territories

Barking MP Dame Margaret Hodge. Picture: Yui Mok/PA Images

Barking MP Dame Margaret Hodge. Picture: Yui Mok/PA Images - Credit: PA Wire/PA Images

The government has been forced to accept proposals put forward by Barking MP Margaret Hodge to tackle money laundering.

Dame Margaret was heading up a group of MPs calling for the government to force British Overseas Territories to produce a public record of ownership.

It is hoped this will make it easier to trace the assets of criminals profiting from illegal practices such as people and drugs trafficking.

In a statement issued ahead of the vote, foreign office minister Alan Duncan said the government “had listened to the strength of feeling” from MPs on the issue and the government would respect the “majority view” and accept Dame Margaret’s proposals.

Dame Margaret also had the support of Liberal Democrat leader Sir Vince Cable, former Labour leader Ed Milliband, the SNP’s Westminster leader Ian Blackford and Green Party co-leader Caroline Lucas.

Senior Conservatives Kenneth Clark and Nicky Morgan also supported the bill, which Dame Margaret submitted with Tory MP Andrew Mitchell.