Economic crime bill will force transparency on property ownership and expand use of unexplained wealth ordersBoris Johnson has said that Russian oligarchs will no longer have a hiding place for their “ill-gotten gains” in the UK under legislation being introduced in parliament this week.A new register of overseas entities is intended to stop the foreign owners of property in Britain from hiding their identity, and separate measures are expected to give some teeth to the unexplained wealth order mechanism, which until now has proved relatively ineffective. Continue reading…
Economic crime bill will force transparency on property ownership and expand use of unexplained wealth orders
Boris Johnson has said that Russian oligarchs will no longer have a hiding place for their “ill-gotten gains” in the UK under legislation being introduced in parliament this week.
A new register of overseas entities is intended to stop the foreign owners of property in Britain from hiding their identity, and separate measures are expected to give some teeth to the unexplained wealth order mechanism, which until now has proved relatively ineffective.