This week the UK government has brought forward the Economic Crime Bill – cracking down on economic crime and dirty money in the UK following Russia’s invasion of Ukraine.
- In light of Russia’s appalling invasion of Ukraine, it is imperative that we move forward with firm action to flush the use of illicit finance and ill-gotten gains out of the UK’s economy.
- That is why the government is bringing forward the Economic Crime Bill, which will create a register of overseas entities, broaden the scope of Unexplained Wealth Orders to target corrupt elites, and strengthen our ability to take action against sanctions breaches. The government has also introduced a Corporate Transparency and Register Reform White Paper – delivering comprehensive reform of Companies House.
- This legislation will help to crack down on economic crime – preventing foreign owners from laundering their money in the UK’s property and financial sectors.