The UK is a hub for dirty money from global criminal activity - bribery, theft of state funds, misuse of public office. It is developed with the aid of companies incorporated in the UK and in its offshore financial centres and invested into luxury UK property, accessing prestigious institutions and privileged lifestyles. An estimated scale of dirty money entering the UK is more than tens of billions of pounds annually. Anonymous companies, where the true owner is hidden, make it difficult to detect the origins of their illicit wealth. The UK is failing to prevent companies registered here being used by money launderers. The secrecy afforded by UK companies - and those registered in offshore financial centres - is facilitating economic crime on a global scale. This must change.
Dirty moneyWritten by David Fletcher 16 Sep 2021
- Pray: for the government authorities and organisations to successfully apprehend criminal activity through robust research and targeted advocacy. (Proverbs 25:26)
- More: www.transparency.org.uk/corruption-and-uk/Dirty%20Money