Panama Papers expose UK role in global corruption

Recommendations to end UK role as a safe haven for corrupt money

Issued by Transparency International UK



The release of the “Panama Papers” has confirmed the UK’s role as a safe haven for corrupt individuals and their stolen wealth. Today, Transparency International UK launches a set of recommendations to end the UK’s role in enabling global corruption and calls on the Prime Minister to use the Anti-Corruption Summit on 12th May in London to take action.

“Paradise Lost” is a thorough analysis of the UK’s role in global corruption, outlining the multitude of ways in which the UK is enabling corrupt individuals to enjoy luxury lifestyles and cleanse their reputations. This includes:

Rachel Davies, Head of UK Advocacy and Research Transparency International UK said:

“The Panama Papers have confirmed that the UK is a prime location for corrupt individuals looking to hide their illicit wealth and buy their way into respectability.”

“Last year, the Prime Minister made a personal commitment to end the UK’s role as a safe haven for corrupt funds. Now is the real test of how serious that rhetoric is. The Anti-Corruption Summit on 12th May is the ideal opportunity for the UK to turn words into action. It must get its own house in order.”

“If corrupt individuals are allowed to continue to buy up luxury property and enjoy life in the UK, then the Government risks its credibility in leading efforts to tackle corruption on the global stage. Our recommendations lay the basis of what the UK must do immediately to ensure its hands are clean in the fight against global corruption.”

Key recommendations include:

The Panama Papers and the UK’s complicity:


For any press enquiries please contact

Dominic Kavakeb, Communications Manager
T: +44 0207 3096 7695/ +44 07964 560340
E: .(JavaScript must be enabled to view this email address)

Latest

Support Transparency International

Risk of impunity increases with outcome of Portuguese-Angolan corruption trial

A verdict last week by the Lisbon Court of Appeals in the trial of former Angolan vice president Manuel Vicente has disappointed hopes for a triumph of legal due process over politics and impunity. It also has worrying implications for the independence of Portugal’s judiciary.

The UK just made it harder for the corrupt to hide their wealth offshore

If counted together, the United Kingdom and its Overseas Territories and Crown dependencies would rank worst in the world for financial secrecy. Fortunately, this could soon change.

The new IMF anti-corruption framework: 3 things we’ll be looking for a year from now

Last Sunday, the International Monetary Fund (IMF) unveiled its long-awaited framework for “enhanced” engagement with countries on corruption and governance issues. Here are three aspects we at Transparency International will be looking at closely in coming months as the new policy is rolled out.

While the G20 drags its feet, the corrupt continue to benefit from anonymous company ownership

The corrupt don’t like paper trails, they like secrecy. What better way to hide corrupt activity than with a secret company or trust as a front? You can anonymously open bank accounts, make transfers and launder dirty money. If the company is not registered in your name, it can't always be traced back to you.

Urging leaders to act against corruption in the Americas

The hot topic at the 2018 Summit of the Americas is how governments can combat corruption at the highest levels across North and South America.

The impact of land corruption on women: insights from Africa

As part of International Women’s Day, Transparency International is launching the Women, Land and Corruption resource book. This is a collection of unique articles and research findings that describe and analyse the prevalence of land corruption in Africa – and its disproportionate effect on women – presented together with innovative responses from organisations across the continent.

Passport dealers of Europe: navigating the Golden Visa market

Coast or mountains? Real estate or business investment? Want your money back in five years? If you're rich, there are an array of options for European ‘Golden Visas’ at your fingertips, each granting EU residence or citizenship rights.

Social Media

Follow us on Social Media