It is a blot on the reputation of the British. In a parliamentary report published on Thursday, 30 June, MPs pointed to the failure of the British government in fighting” dirty money “ Russian in Britain. Despite the determination of the authorities displayed on the subject even before the start of the Russian invasion of Ukraine on 24 February, this dubious money has not stopped irrigating the country. In this report, the Committee on Foreign Affairs considers that London’s Declaration of Intent has not translated into the adoption of sufficiently strong and concrete measures. “For too long, successive governments have allowed nefarious actors and crooks to launder their dirty money in London’s laundromats”Conservative chairman of the commission, Tom Tugendhat, condemns it.

The End of the “Golden Passport”

The movement began with the collapse of the USSR in the early 1990s, before gaining momentum after the 2008 financial crisis and the granting of the “Golden Passport” (banned last February), a device inaugurated when labor investment was encouraged. were in power to do so. Britain. The country is increasingly concentrating the largest number of Russian oligarchs in the world, so the nickname “Londongrad” is attributed to some of the capital’s chic districts.

The Association Transparency International estimates that 4.4 billion pounds sterling (5 billion euros) of foreign money has been invested in properties in the United Kingdom, of which about 20% comes from Russia. This suspicious money seeps into the financial or real estate markets, or is used for political influence.

the law is still too loose

Current UK law doesn’t go far enough, despite recent strengthening, MEPs point out. It still allows oligarchs to hide their wealth and launder illegal money flows. For commission chairman Tom Tugendhat, “Dirty money brings corruption to our homes and turns our institutions against us”. “He is attacking our society and our security,” he adds.

Since the Russian invasion of Ukraine, the United Kingdom has decided to fill legal loopholes undermining its financial policy. The MPs’ report emphasizes in this regard that it is “It’s a shame it fought” Government to take action. And stresses the fact that sanctions imposed in the United Kingdom – which target more than 1,100 Russian citizens and a hundred companies with direct or indirect links with the Kremlin – should lead to a criminal investigation.

new measures, enacted a economic offenses act Recently enacted, requiring the person targeted by an investigation to reveal the sources of unexplained funding as well as their true identity “To ensure that criminals cannot hide behind secret chains of front companies”. Failure to comply with these rules can result in a prison sentence of up to five years for the accused.