Search results
May 21, 2024 · Labour is planning a crackdown on dirty money in the UK, with proposals to punish white-collar enablers of kleptocracy and offer rewards of up to £250,000 to whistleblowers who identify...
- How London and the US became safe havens for dirty money
Add to myFT. How London and the US became safe havens for...
- How London and the US became safe havens for dirty money
Sep 5, 2014 · Dirty Money: Directed by Jenny Ash, Marion Milne. With Ioan Gruffudd, Jeremy Black, Dan Cruickshank, Saul David. Money drove the making of modern Britain, beginning with its role in rebuilding London following the Great Fire of 1666.
- (10)
- Documentary
- Jenny Ash, Marion Milne
- 2014-09-05
The National Crime Agency estimates that money laundering costs the UK more than £100 billion each year. The costs are not only reputational, it also deprives people in the nations from which the money has been stolen of funds intended for important public services. STOPPING THE FLOW OF DIRTY MONEY IN THE UK.
- Overview
- Invasion of Ukraine
Government bringing forward new legislation to tackle economic crime following Russia’s invasion of Ukraine.
Legislation to crack down on dirty money in the UK and corrupt elites will be introduced in Parliament tomorrow, 1 March 2022.
Following the commitments announced by the Prime Minister last week, the government has brought forward the Economic Crime (Transparency and Enforcement) Bill in light of Russia’s invasion of Ukraine. The new legislation will help the National Crime Agency prevent foreign owners from laundering their money in UK property and ensure more corrupt oligarchs can be handed an Unexplained Wealth Order (UWO).
The new register will require anonymous foreign owners of UK property to reveal their real identities to ensure criminals cannot hide behind secretive chains of shell companies, setting a new global standard for transparency. Entities who do not declare their ‘beneficial owner’ will face restrictions over selling their property, and those who break the rules could face up to 5 years in prison.
Under the reforms being brought in on UWOs, those who hold property in the UK in a trust will be brought within scope and the definition of an asset’s ‘holder’ will also be expanded to ensure individuals can’t hide behind opaque shell companies and foundations.
The reforms will also remove key barriers to the use of UWOs by increasing time available to law enforcement to review material provided in response to a UWO and reforming cost rules to protect law enforcement agencies from incurring substantial legal costs if they bring a reasonable case that is ultimately unsuccessful.
Dec 7, 2023 · Rob Davies. Thu 7 Dec 2023 13.51 EST. Britain will remain the global centre of “dirty money” unless ministers revive stalled plans for public registers of who owns companies based in offshore...
It’s about undermining the UK and, and spreading a corrupt practice that sees people defrauded out of tens, twenties, thousands of pounds of their own money. But look, it’s taken a war to stimulate this crackdown. As you know, we’ve been pushing since 2018 and finally, we’ve got some action in 2022.
Mar 3, 2022 · Add to myFT. How London and the US became safe havens for dirty money. Three books examine how and why financial centres in Britain and the US responded to the challenges of the postwar world...
