Unexplained Wealth Orders vital step in fighting corruption

 13^th October 2016, London – Unexplained Wealth Orders (UWOs), a key component of the Government’s Criminal Finances Bill, are a significant effort in ending the UK’s role as a safe haven for corrupt individuals.

Transparency International has argued for the introduction of UWO’s since 2015, after convening a taskforce of experts to look into how the UK can be better equipped to freeze and seize the corrupt assets flowing into the UK.

Robert Barrington, Transparency International UK Executive Director, said:

“Unexplained Wealth Orders would fill a key gap in the UK’s anti-corruption legislation, and make sure that the UK is no longer seen as a safe haven for corrupt wealth. Money stolen from public funds like health budgets in developing countries and used to invest in UK property and other assets is immensely damaging to the poorest of the poor, and this is a chance for the UK to step back from complicity in crimes of corruption.

“We simply cannot continue to roll out the red carpet to the world’s corrupt elite wanting to lodge their illicit wealth in the UK. The UK has a responsibility to ensure that any stolen wealth flowing into the country is stopped, frozen, and ultimately returned to the people from whom it was stolen.”

***ENDS*** 

For further information about unexplained wealth orders, please see our press briefing.

Contact:
Dominic Kavakeb
Dominic.kavakeb@transparency.org.uk
020 3096 7695
0796 456 0340