In response to the Treasury Select Committee's report on economic crime out today, Nienke Palstra, Anti-Corruption Campaigner at Global Witness said:
“The Committee’s recommendation for Companies House is spot on. We know the UK is a favourite for the criminal and corrupt looking to stash stolen money or secure safe haven - and anonymous companies have made this easy. Giving Companies House the resources and mandate to police their company register will address a glaring gap in the UK’s money-laundering defences.In this week alone, we’ve seen that over 1000 UK partnerships were used to move an estimated $13bn of potentially illicit funds as part of the Troika Laundromat. It’s clear that the UK Government must use its upcoming review of Companies House to set out how to fully address such hazardous flaws.”
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