Business minister sends ‘clear warning’ to money launderers with new legislation

Business Minister Kwasi Kwarteng informed the House of the changed the government is making to business law to ensure “transparency” in the UK and to “send a clear message” to money launderers, including oligarchs.

Kwarteng detailed changes to include the need to “verify identity with companies house” and a “crack down” on foreign criminals using UK property to launder.

The government’s hope is that the this will impact all criminals, but “particularly those linked to the Putin regime”.