Martin Kenney was asked by the Daily Mail newspaper to comment on pressure being brought to bear on the UK government by some UK politicians, who want to tighten regulations and prevent overseas owners of UK property from hiding ultimate ownership details using trusts.
Public UBO registers are only as good as the information provided by those required to furnish it.
Having browbeaten the House of Commons into enacting a statute seeking to impose public ultimate beneficial ownership registers on the United Kingdom’s overseas territories, such as the Virgin Islands, there are moves afoot to legally fortify this legislative decision by declaring it under the heading of national security.
Russia and its oligarchs are not alone in their kleptomaniac, money-laundering endeavours.
