John Binns and Tom McNeill on new financial crime law

The Economic Crime and Corporate Transparency Bill 2022 promises a medley of reforms, intended to strengthen ‘the UK’s reputation as a place where legitimate business can thrive, whilst driving dirty money out of the UK’. This article explores whether the proposed reforms would meet these objectives.

Reforms to Companies House

Companies House has long been criticised as a gateway for economic criminals operating in the UK and elsewhere, and an effective passport for criminal money entering the legitimate financial system. It is well regarded internationally and provides some legitimacy to UK-registered businesses, but it notoriously lacks checks to prevent widescale and systemic abuse by det...

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