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TI-UK Submission – BEIS Limited Partnership Consultation

The UK is a top destination for illicit finance, with the National Crime Agency (NCA) estimating that the scale of money laundering impacting the UK annually is in the hundreds of billions of pounds.1 UK- registered companies have played a central role in this problem, facilitating dozens of schemes over the years amounting to tens of billions of pounds.

Research by Transparency International UK (TI-UK) has identified 766 UK corporate vehicles alleged to have been used in 52 large scale corruption and money laundering schemes worth around £80 billion.2 Around half of these companies were based at just eight UK addresses, and a quarter were still shown as ‘active’ in the UK company register as of November 2017.

TI-UK welcomes the Government’s consultation into the reform of UK limited partnership law, and makes several recommendations in this document.

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ADDITIONAL INFO

  • Report published: Aug 2019

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