Is the U.K. Finally Getting Serious About Cracking Down on Dirty Money?

A property in Hampstead, north London, which is the home of Kazakh national Nurali Aliyev and is the subject of an Unexplained Wealth Order, March 12, 2020 (Photo by Ben Cawthra for Sipa via AP Images).
A property in Hampstead, north London, which is the home of Kazakh national Nurali Aliyev and is the subject of an Unexplained Wealth Order, March 12, 2020 (Photo by Ben Cawthra for Sipa via AP Images).

The United Kingdom has long been infamous as a money-laundering haven, with hundreds of billions of dollars in dirty money passing through its financial system just in recent years. In 2017, the British government decided to deal with all this dirty money by enacting the Unexplained Wealth Orders, a series of regulations allowing authorities to identify and seize assets related to potential corruption and money-laundering cases. But in their three years of existence, the government has pursued a grand total of just one case under the orders, against the wife of a prominent former banker from Azerbaijan, who had fallen […]

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