Featured Brexit

Relaunched Brexit Party has bank account shut down

The re-launched Brexit Party, which now campaigns against Covid-19 restrictions, has been told that its bank account is being shut down. In a move that Richard Tice, who leads the Reform Party, described as “grim” and “outrageous”, Metro Bank issued a letter out of the blue stating that “after… Read More

UK’s search for trade with developing countries raises TBML alarm

The UK’s courtship of trade with developing countries after Brexit risks exacerbating the country’s exposure to trade-based money laundering (TBML), according to new research. As part of the country’s trade strategy after departing the EU, the UK’s Department for International Trade (DIT) announced plans earlier this month for a Developing… Read More

Getting Serious? Illicit Finance Is Finally a UK Foreign Policy Issue

The focus of most commentators on the UK government’s Integrated Review (IR) of Security, Defence, Development and Foreign Policy was inevitably the headline items: raising the cap on the UK’s nuclear warhead stockpile; the ‘tilt’ to the Indo-Pacific; the threat from Russia; adapting to China; cyber power; and growing… Read More
25th March 2021
Brexit is a “massive opportunity” for criminals, a webinar on serious and organised crime in the UK and Ireland was told on Wednesday. Professor Gloria Laycock, of University College London, made the remark when saying she believed the UK leaving the EU was among the issues that those concerned… Read More
22nd February 2021
Thanks in part to Brexit, Lithuania is becoming a fintech hub as a growing number of UK-linked digital financial companies are getting licences there so they can continue to operate in the European Union. The Baltic eurozone state with a population about a third the size of London is now… Read More
16th February 2021
The financial services industry that has helped keep the Virgin Islands economy afloat amid the global pandemic is rushing to distance itself from a new threat posed by the commission of inquiry. The United Kingdom commission of inquiry into allegations of potential corruption in the territory… Read More
12th February 2021
Michel Barnier has accused British financial services firms of using letterbox companies to gain access to the EU’s Single Market. The EU’s chief Brexit negotiator said that some firms were looking to circumvent post-Brexit rules by setting up shell companies to satisfy EU headquartering requirements. “As far as financial services… Read More
9th February 2021
Five years ago a young, unknown MP wrote a pamphlet for a Thatcherite thinktank extolling the benefits of free ports. Now that Rishi Sunak is chancellor, his dream for Britain is – for good or ill – fast becoming reality. This week, alliances of port owners,… Read More
5th February 2021
Germany’s financial watchdog has ordered Goldman Sachs’ European arm to comply with rules to prevent money laundering and terrorist financing, it said on Thursday. The watchdog, BaFin, said it had asked Goldman Sachs to comply with due diligence obligations regarding customers and risk analysis requirements under Germany’s anti-money laundering laws. Read More
25th January 2021
The European parliament is pushing for UK overseas territories including the British Virgin Islands, Guernsey and Jersey to be added to an EU tax havens blacklist after the conclusion of the Brexit deal. Sending a signal that tougher action on tax avoidance was required in response… Read More
15th January 2021
By David Klein, OCCRP, 14 January 2021 OCCRP — Following the final implementation of Brexit, and thus the U.K.’s complete exit from the European Union, the country has last week rejected EU trade regulations designed to clamp down the illegal antiquities trade. The EU law, which… Read More
6th January 2021
Members of the European Parliament are asking the EU’s executive arm to withhold permits granting UK financial services companies easy access to the bloc’s market pending a stronger commitment from London to do more on money laundering and tax avoidance, the Financial Times reported Tuesday. Green… Read More
31st December 2020
Police and prosecutors will be forced to retreat to decades-old tools for cooperation despite a last-minute Brexit trade deal, raising the risk of fumbles. The pact between Britain and the European Union allows cooperation between the U.K. and member states, particularly as part of investigations into terrorism and serious crime,… Read More