Around the world, freeports present a major money laundering risk due to the secrecy and security they offer. Without proper protections in place, creating similar areas in the UK risks effectively establish onshore havens in which criminals and the corrupt could anonymously hide their ill-gotten gains. Such a situation would prove detrimental to our prosperity, security and reputation for fair business practices and the rule of law.

The UK’s freeports aim to increase jobs and innovation across the UK and promote trade and investment globally. However, ignoring the significant corruption risks presented by freeports does more to threaten these objectives than achieve them.

Our submission outlines the corruption risks that emerge in freeports, and makes a series of recommendations to reduce these risks.