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New Al Jazeera Ukraine investigation shines yet more light on UK role in global money laundering

“The corruption goes on”……with London at the centre

New Al Jazeera Ukraine investigation shines yet more light on UK role in global money laundering

7th January 2018 – A new investigation aired today by Al Jazeera English has once again underlined the role of London in facilitating global corruption and money laundering.

The investigation reveals oligarchs in Russia and Ukraine using a global network of professionals and shell companies to facilitate the illegal sale of frozen assets belonging to ousted former Ukraine President Viktor Yanukovych.

Professionals in the UK played a key role in helping to construct the secretive web of companies which made the illicit sale of the funds possible. The film exposes how firms offering professional services can be captured by those seeking to launder money. It reveals that an Oligarch involved in the deal is the owner of a global company formation agent with an office in London, allowing this individual to create anonymous shell companies at will. Another UK shell company highlighted by the investigation was registered at an address where our previous research showed there were 35 more companies involved in global money laundering and corruption scandals.

Duncan Hames, Director of Policy at Transparency International UK, said:

“Once again we see a global corruption scandal facilitated by UK companies and professional services. The people of Ukraine successfully ousted a President they considered corrupt and to know that his ill-gotten gains are now being traded to enrich other oligarchs is a travesty. These assets should be returned to the people from whom they have been stolen.”

“It shames our country that this transfer of illicit wealth from one set of criminals to another has been facilitated through British professional services and financial institutions. This means activity in the UK has been directly involved in undermining the Ukrainian people’s efforts to seek justice. Our Government must do far more to end the UK’s central role in the global flows of dirty money.”

“A starting point would be for HMRC to immediately look into the companies and service providers named in this investigation and take serious action against them for any money-laundering breaches.”

***ENDS***

Contact:

Dominic Kavakeb

020 3096 7695

079 6456 0340

dominic.kavakeb@transparency.org.uk

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Read 281 times Last modified on Sunday, 7 January 2018 11:44

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