Oligarchs selling UK property to avoid new register may have to declare details

MPs vow to toughen up economic crime bill rushed through House of Commons on MondayOligarchs or kleptocrats who try to sell off property in order to avoid it being listed in a new public register may be forced to declare their details upon sale, a minister has said, as MPs vowed to toughen up a new bill targeting hidden wealth.Ministers have promised sweeping changes to toughen up the economic crime bill, which was rushed through the House of Commons on Monday, as MPs also demanded the closing of loopholes allowing false reporting of assets. Continue reading...

Oligarchs selling UK property to avoid new register may have to declare details

MPs vow to toughen up economic crime bill rushed through House of Commons on Monday

Oligarchs or kleptocrats who try to sell off property in order to avoid it being listed in a new public register may be forced to declare their details upon sale, a minister has said, as MPs vowed to toughen up a new bill targeting hidden wealth.

Ministers have promised sweeping changes to toughen up the economic crime bill, which was rushed through the House of Commons on Monday, as MPs also demanded the closing of loopholes allowing false reporting of assets.

Continue reading...