Stop Dirty Money In UK Property: Close The Loopholes and Fund Enforcement NOW!

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Transparency International UK is asking UK Government
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Stop Dirty Money In UK Property: Close The Loopholes and Fund Enforcement NOW!

The global outrage at the war in Ukraine has thrown the spotlight on the UK’s shocking dirty money problem – an open secret to those in the know.

Britain has long been a favourite destination for the world’s corrupt to stash their dirty money; money stolen from governments and their citizens around the world. To support our work in tackling this, donate now.

Transparency International has identified £1.5 billion worth of UK property bought with suspect money by Russians accused of corruption or with links to the Kremlin. But with layers of secrecy covering who really owns UK property, what we’ve found is just the tip of the iceberg.

The UK has long been a safe haven for dirty money from around the world, and there’s been a history of inaction. It’s been too easy to stash corrupt funds in the UK.

This dirty money arrives in the UK via anonymous shell companies, masking the true owners, and is spent on luxury property, high end goods and services, and fees for the UKs top public schools and universities.

They’re helped by some UK bankers, accountants, lawyers and PR professionals who are willing to look the other way when it comes to their clients’ suspect wealth.

It’s time to close all the loopholes for good so the corrupt have nowhere to hide.

We have a small window of opportunity to ensure effective legislation, regulations and penalties are put in place to make sure that the corrupt have nowhere to hide, no-one to help and no impunity for their actions.

After seven years, the UK government has finally committed to implementing in the next six months some of the changes needed to end Britain’s role as a safe haven for those with money to hide. But loopholes remain for the corrupt and their advisors, allowing them to continue to launder their ill-gotten gains.

To root out dirty money in the UK once and for all, we are calling for:

1.     Nowhere to hide.  An end to the secrecy afforded by UK companies - and those registered in the UK’s offshore financial centres - so the police and others can find illicit wealth. 

2.     No one to help. Put proper deterrents in place so UK professionals don’t help corrupt people hide, clean and spend their dirty money.

3.     No impunity. Law enforcement and regulators need to be given adequate resources to clamp down on dirty money.

Sign this open letter to send a message to the Government: It’s time for action, help to fund this work. 

About Transparency International UK

We are the UK’s leading anti-corruption organisation. Our vision is for a world in which government, politics, business, and the daily lives of citizens are free of corruption.
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