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UK Government announces plan to tackle corrupt money

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The Government has launched its Action Plan for anti-money laundering and counter-terrorist finance, including bold measures that Transparency International UK has been advocating for. Read our initial press statement in response here, and our in-depth analysis here. Our relevant recent publications are listed below.

Don’t Look, Won’t Find outlines how the UK’s anti-money laundering regime needs to be reformed to strengthen the UK’s front-line defences against corrupt and illicit funds. This aspect is addressed within the plan, with the Government announcing a consultation on how anti-money laundering rules are supervised.

Empowering the UK to recover corrupt assets and Closing down the safe havens examine the UK’s performance at freezing and recovering corrupt funds, and how Unexplained Wealth Orders and an Illicit Enrichment Offence could significantly help law enforcement agencies in restraining and returning the proceeds of corruption. The plan announces that the Government will explore options for new legal powers, particularly looking at unexplained wealth.

Paradise Lost is an overview of what we think needs to be done in order end the UK’s role as an enabler of global money laundering and a safe haven for corrupt individuals.

Gold Rush highlights how the UK’s Tier 1 (Investor) visa programme has left the door open to wealthy, corrupt individuals looking to start a new life in the UK.

Corruption on your doorstep shows how the UK property market is being targeted by those looking to launder the proceeds of corruption and how ‘anonymous companies’, based in the UK’s Overseas Territories and Crown Dependencies, are used to help this process.

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