Senior Tories push for tougher laws on fraud and money laundering

Proposed changes from a former justice secretary could see senior executives jailed for up to seven years if they fail to prevent economic crime.

Former justice secretary Sir Robert Buckland is one of several senior Tories pushing for tougher laws on fraud and money laundering (Victoria Jones/PA) (PA Wire)

Senior Conservatives are pushing for tougher laws to combat fraud and money laundering in what could be another challenge from the Government’s backbenches.

A group of MPs led by former justice secretary Sir Robert Buckland has proposed a series of amendments to the Economic Crime and Corporate Transparency Bill that would make it easier to hold companies and managers responsible for economic crime.

The amendments include a new duty to prevent economic crime, meaning businesses could be prosecuted if they do not take steps to stop offences such as fraud.