The Pandora Papers have confirmed just how little oversight we have over what kind of money comes into the UK, and what’s done with it.
Politicians and campaigners are now calling for further action to tighten the UK’s transparency and anti-money laundering procedures: the truth is that our existing mechanisms are failing.
One important area is knowing who actually owns companies based in the UK. The issue of beneficial ownership, where one person enjoys the benefits of owning an asset, even though it is legally registered to another name, regularly features in stories about money laundering and asset secrecy.
