{"id":18743,"date":"2022-03-17T00:57:41","date_gmt":"2022-03-17T00:57:41","guid":{"rendered":"https:\/\/www.wrigleyclaydon.com\/?p=18743"},"modified":"2022-03-17T00:57:41","modified_gmt":"2022-03-17T00:57:41","slug":"uk-fast-tracks-economic-crime-bill-to-target-money-laundering-by-foreign-oligarchs","status":"publish","type":"post","link":"https:\/\/www.wrigleyclaydon.com\/?p=18743","title":{"rendered":"UK fast-tracks Economic Crime Bill to target money-laundering by foreign oligarchs"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_column_text]The BBC has reported that the UK is fast-tracking The Economic Crime Bill to target money-laundering by foreign oligarchs.<\/p>\n<p>The Bill will include a new register that will mean foreign owners of UK property must declare and verify their identities with Companies House with the aim to stop overseas criminals and oligarchs from using agents to create companies or buy property for them in the UK.<\/p>\n<p>Entities that refuse to declare their owners will face restrictions in selling property and those who break the rule could be imprisoned for up to five years.<\/p>\n<p>This follows claims that the government has received threatening letters from City law firms acting for clients facing sanctions following the Russian invasion of Ukraine. Foreign secretary Liz Truss has said that law firms were holding up efforts to implement asset freezes and travel bans.<\/p>\n<p>A joint statement from leaders of the European Commission, France, Germany, Italy, UK, Canada and the US promised a clampdown on \u2018enablers\u2019 to Russian elites and officials. The term \u2018enablers\u2019 is understood to include law firms.<\/p>\n<p><strong>Suffering a dispute can have serious implications on you and your livelihood and reputation.\u00a0 Our dispute resolution solicitors will quickly and efficiently put your case together and act on your behalf. Call Vijay Srivastava or Shalish Mehta in our civil and commercial litigation department on 0161 624 6811(Option 6) or email vjs@wrigleyclaydon.com or <a href=\"mailto:sm@wrigleyclaydon.com\">sm@wrigleyclaydon.com<\/a>. We can advise you on the appropriate course of action and assist with any legal documents or proceedings that may occur.<\/strong><\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<a href=\"https:\/\/www.wrigleyclaydon.com\/litigation-solicitors\/civil-litigation\/\">Civil Litigation<\/a><br \/>\n<a href=\"https:\/\/www.wrigleyclaydon.com\/dispute-resolution\/\">Dispute Resolution<\/a><br \/>\n<a href=\"https:\/\/www.wrigleyclaydon.com\/company-and-commercial-solicitors-in-oldham\/commercial-litigation\/\">Commercial Litigation<\/a>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text]The BBC has reported that the UK is fast-tracking The Economic Crime Bill to target money-laundering by foreign oligarchs. The Bill will include a new register that will mean foreign owners of UK property must declare and verify their identities with Companies House with the aim to stop overseas criminals and oligarchs from using agents&hellip;<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6708,6705,6059,221],"tags":[],"class_list":["post-18743","post","type-post","status-publish","format-standard","hentry","category-civil-litigation","category-commercial-litigation","category-dispute-resolution","category-litigation-disputes"],"_links":{"self":[{"href":"https:\/\/www.wrigleyclaydon.com\/index.php?rest_route=\/wp\/v2\/posts\/18743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.wrigleyclaydon.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wrigleyclaydon.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wrigleyclaydon.com\/index.php?rest_route=\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wrigleyclaydon.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18743"}],"version-history":[{"count":0,"href":"https:\/\/www.wrigleyclaydon.com\/index.php?rest_route=\/wp\/v2\/posts\/18743\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.wrigleyclaydon.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wrigleyclaydon.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wrigleyclaydon.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}