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

A major victory in the fight against cross-border corruption.

From the Lava Jato scandal to the Panama and Paradise Papers, time and again we’ve seen how offshore territories – often known as secrecy jurisdictions or tax havens – play a key role in facilitating the illicit flow of money across borders.

Some of the most notorious of these are among Britain’s Overseas Territories. But, fortunately, this could soon change.

Last week, the UK Parliament voted in favour of requiring any British Overseas Territory that has not already done so to introduce public registers that reveal the individuals behind companies based there by the end of 2020.

Read entire article The UK just made it harder for the corrupt to hide their wealth offshore | Transparency International

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