abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb
Article

1 May 2018

Author:
Naomi Hirst & Ava Lee, Global Witness

Biggest move against corruption in years - UK Government votes for transparency

See all tags

Today the UK government voted for transparency. By agreeing to push the UK’s Overseas Territories to publish public registers of the real owners of their companies, the UK has led the world in one of the biggest moves we have seen in the fight against corruption for years. This is HUGE.

Why? Because as so many of our investigations over the years have revealed, corrupt officials, McMafia style-mobsters and oligarchs use companies registered in these Territories, places like the Cayman Islands and British Virgin Islands, to hide their criminal activities.

The anonymous companies for sale in these jurisdictions allow the corrupt and the criminal to steal, hide and move suspect funds around the world. And over a year ago, the Panama Papers demonstrated their importance, as they revealed that more than half of the companies named in the papers were registered in the UK’s Overseas Territories…