David Lammy has made a firm commitment that the UK will not serve as a hub for illicit funds and has vowed to crack down on corruption. The Deputy Prime Minister emphasized that underground financial networks, facilitated by various enablers in the UK, have far-reaching impacts, allowing more illegal activities like drug trafficking and arms dealing to thrive. According to him, the National Crime Agency (NCA) identified a potential yearly laundering sum of over £100 billion in the UK, while British businesses encountered 117,000 bribery attempts locally in the last year.
In unveiling the Government’s new anti-corruption strategy, which comprises over 100 initiatives, Lammy highlighted the pervasive nature of these networks that exploit shadowy channels such as shell companies, high-end real estate, and cryptocurrency assets linked to hostile states, criminal groups, and terrorists. London, known for its trusted financial system, is being targeted by elites with ties to the Kremlin, aiding Putin’s aggressive actions. Lammy affirmed that London will no longer serve as a sanctuary for such activities and pledged to put an end to them.
To bolster these efforts, the Government announced the expansion of the Domestic Corruption Unit (DCU), a specialized anti-corruption team, with an additional £15 million in funding for a nationwide crackdown. Stricter measures will also be implemented to prevent corrupt individuals from infiltrating key services, with new Border Force recruits mandated to disclose any prior criminal convictions.
Security Minister Dan Jarvis emphasized the threat corruption poses to national security and declared the UK’s commitment to becoming a global leader in combating corruption by intensifying law enforcement actions and introducing enhanced safeguards against criminal infiltration. Keir Starmer’s Anti-Corruption Champion, Baroness Hodge, will lead a review on asset ownership in the UK to track cash flow and expose the channels through which criminals funnel dirty money into the country.
Baroness Hodge expressed confidence in the strategy’s ability to fortify the UK’s defenses against illicit funds and improve its capacity to target those profiting from corruption and criminal activities. The focus now is on swift implementation of these measures to combat corruption effectively and safeguard the country’s financial integrity.