Syed Rahman reviews the Economic Crime (Transparency and Enforcement) Act 2022
The much-lauded, heavily-anticipated Economic Crime Bill has become law. To give it its full title, the Economic Crime (Transparency and Enforcement) Act 2022 has become the government’s considered attempt to halt the flow of dirty money to these shores.
We finally have is the creation of a register to show the genuine owners of the overseas companies that have control of some of the UK’s most valuable assets. It will cover any purchases of property in England and Wales over the last 20 years – and since December 2014 in Scotland – by any non-UK entity. The retrospective nature of this will certainly make it more useful in targeting funds of dubious origins and bring greater openness to such transactions. An...