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UK rhetoric on Russian money laundering not matched by action, MPs conclude

Foreign affairs select committee criticises government’s ‘lack of willingness’ to legislate to stop illicit financial flows

The UK government’s rhetoric on clamping down on Russian money laundering in Britain “has not been matched with constructive action”, a critical report by a cross-party committee of MPs has found.

The report by the House of Commons foreign affairs select committee suggested that “morally bankrupt billionaires” were using the UK as “a safe-deposit box”, and concluded it was “shameful that it has taken a war to galvanise the government into action”.

“The government’s lack of willingness to bring forward legislation stemming the flow of Russian money has directly contributed to the UK’s status as a safe haven for corrupt wealth,” the report said.

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