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UK remains global money-laundering capital with more work to be done 

26th October 2017, London – The publication today of the UK’s National Risk Assessment of money laundering and terrorist financing underlines the urgent need for more action to end the UK’s role as a safe haven for corrupt money. Whilst we recognise recent measures, such as new powers for law enforcement to target corrupt wealth, the UK must do far more if it is to truly “lead the way” on the crackdown of illicit money.

The National Risk Assessment outlines the importance of government, law enforcement and the private sector in tackling corrupt money being hidden in the UK. This is why it is essential that government provide the necessary legislation to stop dirty money, the private sector meaningfully report suspicious activity and that law enforcement properly investigates.   

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

We welcome the publication by the Government of this important work and their commitment to openness by doing so. This National Risk Assessment shows the UK’s complicity in overseas corruption hasn’t gone away. The Government has repeatedly stated that it will not tolerate corrupt money being stashed in the UK, but new police powers have yet to come into force and commitments made last year are still to be delivered.”

“Our work, that of other organisations, and investigations like the Panama Papers have shown just how susceptible the UK is to corrupt money. Action is what’s needed now, and that could start with legislation for the register the Government promised that would end the anonymity of those who use overseas companies to purchase UK property.”

“Teodorin Obiang, Vice-President of Equatorial Guinea is accused of laundering the proceeds of corruption. Tomorrow in France, his trial will reach a verdict. How long until we see those accused of using the UK to hide their illicit wealth brought before courts in the UK?”


Dominic Kavakeb
020 3096 7695
079 6456 0340


Read 399 times Last modified on Thursday, 26 October 2017 18:01

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