UK company transparency: one less place to hide
It’s finally happened. UK legislation requiring the true owners of UK companies to be made public, received the final sign off in Parliament last week.
Union Jack | source: Wikipedie
Under the new law, UK-registered companies must submit information on their true owners – such as full name and nationality – to Companies House which up until now has not required this information.
The UK should be congratulated for taking a lead on making it harder to hide corrupt money through a complex chain of opaque company ownership.
While UK companies must be transparent about who really owns them, there is a gaping hole in the UK’s armour against money laundering.
You can continue reading on transparency.org
This is a great moment for transparency campaigners.