TI disappointed at UWO overturning

Transparency International has expressed its disappointment at the High Court’s decision to dismiss UWOs that would have required family members of the former Kazakh President to explain how they acquired £80m of UK property. Mrs Justice Lang said NCA had not sufficiently proved the source of the funds was the former husband of the President’s daughter.  The properties were owned by the daughter and her son.

TI commented that until the Registration of Overseas Entities Bill becomes law, and requires transparency over who really owns offshore companies that hold UK property, this major weakness in the UK’s ability to deal with these issues will persist.