CLOSURE OF FIRST SOLUTIONS MONEY TRANSFERS LTD

That this House commends the efforts of Rushanara Ali and her work through the Tower Hamlets community which resulted in the successful lobbying of the Government to investigate the recent closure of First Solutions Money Transfers Ltd; notes the distress and hardship caused to hundreds of people affected by this closure; further notes reports suggesting that around 2,000 people have lost a combined total of over £9 million; and calls for new stringent regulations and appropriate support mechanisms to protect those who entrust their money to money transferring companies.