A London-based charity founded by former Nigerian President Olusegun Obasanjo has closed its doors almost seven months after it was linked to allegations of money laundering, ACAMS moneylaundering.com has learned.
The resounding victory Thursday of Britain's Conservative Party will mean modest tweaks rather than sharp changes to the U.K.'s fight against financial crime in the coming five years, say analysts.
U.K. elections in May aren't likely to spare British territories from implementing new corporate transparency measures, but the results could determine how soon and how far those steps are taken.
With U.K. elections only two months away, Tory and Liberal Democrat lawmakers alike have been forwarding strategies to tackle tax evasion and other financial crimes. One consideration of the Labour Party: whether British officials have the proper resources to penalize wrongdoers.
Following last month's reports that HSBC's Swiss private bank served thousands of possible tax cheats, the U.K. government outlined plans Thursday to target tax evaders and those who assist them.
British officials are set to propose legislation that would require private corporations and limited liability partnerships to publicly disclose their individual owners, a U.K. minister said Monday.