News

After years of inaction, it took Russia's increasingly bloody, unprovoked war against Ukraine to finally spur U.K. officials into advancing plans to address weaknesses that for decades have allowed corrupt oligarchs and officials tied to the Kremlin to park funds in Britain. The 65-page Economic Crime Bill, published late Monday, will introduce a new, public "register of overseas entities" to force shell companies that own vast swathes of valuable U.K real estate to declare their true owners, ease the government's ability to secure unexplained wealth orders and boost HM Treasury's power to enforce sanctions. Officials also outlined related plans for...