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Government takes landmark steps to further clamp down on dirty money | |
admin | |
2022-02-28 | |
发布年 | 2022 |
语种 | 英语 |
国家 | 英国 |
领域 | 气候变化 ; 资源环境 |
正文(英文) | Government takes landmark steps to further clamp down on dirty moneyGovernment bringing forward new legislation to tackle economic crime following Russia’s invasion of Ukraine. Legislation to crack down on dirty money in the UK and corrupt elites will be introduced in Parliament tomorrow, 1 March 2022. Following the commitments announced by the Prime Minister last week, the government has brought forward the Economic Crime (Transparency and Enforcement) Bill in light of Russia’s invasion of Ukraine. The new legislation will help the National Crime Agency prevent foreign owners from laundering their money in UK property and ensure more corrupt oligarchs can be handed an Unexplained Wealth Order (UWO). The new register will require anonymous foreign owners of UK property to reveal their real identities to ensure criminals cannot hide behind secretive chains of shell companies, setting a new global standard for transparency. Entities who do not declare their ‘beneficial owner’ will face restrictions over selling their property, and those who break the rules could face up to 5 years in prison. Under the reforms being brought in on UWOs, those who hold property in the UK in a trust will be brought within scope and the definition of an asset’s ‘holder’ will also be expanded to ensure individuals can’t hide behind opaque shell companies and foundations. The reforms will also remove key barriers to the use of UWOs by increasing time available to law enforcement to review material provided in response to a UWO and reforming cost rules to protect law enforcement agencies from incurring substantial legal costs if they bring a reasonable case that is ultimately unsuccessful. Prime Minister Boris Johnson said:
Home Secretary Priti Patel said:
Business Secretary Kwasi Kwarteng said:
Economic Secretary to the Treasury John Glen said:
The Treasury will also intensify sanctions enforcement by introducing a more wide-ranging ‘strict civil liability test’ for monetary penalties, rather than the current one which requires firms to have knowledge or a ‘reasonable cause to suspect’ sanctions are being breached. This will make it easier for the Office for Financial Sanctions Implementation (OFSI) to impose significant fines. A further change will mean OFSI will be able to publicly name organisations that have breached financial sanctions, but have not received a fine. The Register of Overseas Entities, introduced in tomorrow’s legislation, will apply retrospectively to property bought by overseas owners up to 20 years ago in England and Wales and since December 2014 in Scotland. It will be held by Companies House, with support from the UK’s Land Registries. These new measures are being introduced as one part of our response to tackle the scourge of economic crime in the UK and will safeguard our reputation as a clean and safe place for legitimate investment. In addition, the government is today publishing a detailed White Paper setting out its plans to upgrade Companies House, which will mean:
Reform of Companies House will form part of further legislation which will be introduced in the coming months via a further Economic Crime Bill to clamp down on illicit finance and improve corporate transparency, which will also include:
Separately, a new ‘Kleptocracy’ cell based in the National Crime Agency, announced last week, is being stood up immediately to investigate sanctions evasion. This will ensure that those seeking to bypass the severe economic sanctions announced against Russia last week, will be caught and punished.
Published 28 February 2022
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来源平台 | Department for Business, Energy & Industrial Strategy |
文献类型 | 新闻 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/346914 |
专题 | 气候变化 资源环境科学 |
推荐引用方式 GB/T 7714 | admin. Government takes landmark steps to further clamp down on dirty money. 2022. |
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