George Osborne visits Paris for two-day talks — EU reform
The Prime Minister took small bites as he tucked into the Indonesian street food alongside a local celebrity, singer and actress Maudy Ayunda. “London is not a place to stash your dodgy cash”.
Transparency worldwide says shell companies are a common way for moving corrupt money around the world.
Some 50 Indonesian police officers will travel to theUK for training in counter-terrorism investigations.
Later in the trip he will travel to Malaysia and Vietnam.
2014 report by anti-poverty organization One said an estimated $1tn a year was being taken out of poor countries because of corruption, warning of the use of phantom firms and money laundering.
A shell company is a non-trading company which is either used as a vehicle for a certain financial goal or kept dormant for future use.
The new register is expected to have the biggest impact in London where 36,000 properties are owned by offshore companies. That is the case whether that problem is emanating from Libya, from Syria or anywhere else, The Telegraph quoted Cameron as saying.
People like convicted Nigerian fraudster James Ibori, who owned property in St John’s Wood, Hampstead, Regent’s Park, Dorset all paid for with money stolen from some of the world’s poorest people”.
He said: It’s good to hear French politicians agreeing that as the eurozone integrates we need to have fair treatment for those who are not in the euro. London is not a place to stash your dodgy cash”. The offshore corporate landowners are not the end of the trail”, said Polly Sprenger, a specialist in corporate and economic crime at Eversheds.
“We agree with the Prime Minister that our property market should never be a place that facilitates corruption of any kind. These values, he said, had helped boost investment in Singapore. He also urged the government to press for similar levels of transparency from Britain’s overseas territories, many of which are used in the complex company structures often used to avoid or evade tax.
Global Witness, which campaigns against corruption, said it was too easy for criminals to launder money through luxury property, and it welcomed the measures. “We will consult on the best way forward.
The UK and Indonesia have agreed an exchange programme for religious and community leaders to come to Britain to share their knowledge of efforts to tackle extremism.
