Brexit Is Hurting the Fight Against Corruption

In the decade since the financial crisis, public anger has simmered over the way rich individuals and corporations game the international financial system to avoid paying their fair share. In Britain, those ploys include the tax-minimization schemes of companies like Starbucks and Amazon and are symbolized by the corrupt officials — Nigerian ministers, ex-Soviet insiders, deposed Middle Eastern politicians — who launder their stolen cash and besmirched reputations through British institutions, spending their dirty money on high-end real estate in London.

Hundreds of billions of pounds of illicit money pass through British banks every year, and the National Crime Agency has called money laundering “a strategic threat to the United Kingdom’s economy and reputation.” Billions more are said to transit through Britain’s overseas territories and dependencies — the Cayman and British Virgin Islands, Bermuda, Gibraltar, the Channel Islands and the

... read more at: https://www.nytimes.com/2017/09/19/opinion/brexit-britain-corruption.html

by