The UK’s financial and professional services have long provided a comfortable home to dirty money. The rapid deregulation and growth of London as a centre for these services from the 1980s coincided with the end of the USSR and the rise of the post-Soviet kleptocracies which today are major sources of customers for British banks, law firms and related sectors.
The full gamut of risks arising from the servicing of these kleptocrats for the UK’s rule of law are only just beginning to be understood. This event and associated paper addresses regulatory and enforcement failures, and how the UK can tackle the problem more effectively through a new UK anti-kleptocracy strategy.
