TLDR
- The UK’s Anti-Corruption Strategy targets illicit finance and crypto-assets used to evade sanctions.
- The plan includes stronger enforcement, expanded sanctions, and enhanced whistleblowing frameworks.
- International collaboration is a key focus, with a summit planned for June 2026 to combat money laundering.
- The UK aims to improve transparency and accountability within its institutions through new reforms.
- The strategy specifically targets crypto misuse and property laundering linked to criminal networks.
The UK government has announced a new Anti-Corruption Strategy targeting illicit finance and crypto sanctions evasion. This initiative, announced by Deputy Prime Minister David Lammy, is designed to tighten enforcement and close financial crime loopholes.
UK Corruption Crackdown
The strategy aims to address both domestic and international corruption. It focuses on corrupt actors moving illicit wealth through the UK, targeting both individuals and organizations. The plan emphasizes stronger enforcement through expanded sanctions, improved whistleblowing frameworks, and enhanced anti-money laundering practices
“Corruption bleeds countries dry and fuels conflicts,” said David Lammy, highlighting the global implications. The UK government is also seeking reforms in public life through a new Ethics and Integrity Commission. This effort intends to increase transparency and accountability within institutions and reduce corrupt practices.
Working with International Partners
The UK government plans to collaborate more closely with international partners to combat illicit finance. Security Minister Dan Jarvis outlined efforts to bolster global defenses against corruption. This includes an international summit on illicit finance scheduled for June 2026, which will bring together governments, civil society, and private sector players to discuss modern methods of money laundering.
The Foreign Office emphasized the need for coordinated action, particularly in the areas of crypto misuse and property sector laundering. “We must work together to close the gaps exploited by organized criminals,” said Jarvis. By building stronger international ties, the UK aims to play a leading role in the global fight against corruption.
Targeting Crypto and Property Laundering
The UK government’s strategy also places a heavy focus on crypto-assets used to bypass sanctions. Foreign Secretary Yvette Cooper highlighted how crypto has become a tool for criminals, especially those linked to illicit activities like human trafficking. The UK has already imposed new sanctions on global scam networks and Russian oligarchs tied to the Kremlin.
Efforts are underway to strengthen laws governing the use of cryptocurrency and its role in evading sanctions. These steps aim to tighten security around crypto transactions, making it harder for bad actors to hide illicit wealth. The UK also plans to improve transparency in the property sector, targeting criminals who funnel illicit money into real estate.
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