Report: £250 billion fraud in UK tax havens greater sum than 20 years of foreign aid budget
Russia most common place of origin for fraudsters using British overseas territories
A NEW report has identified over £250 billion in fraudulent funds directed through UK tax havens, more than over 20 years of the UK Government’s foreign aid budget.
The report, by Transparency International, examined the UK’s overseas territories, many of which act as tax havens for companies around the world to launder illegally obtained funds through.
The analysis comes as the Overseas Territories Joint Ministerial Council is set to meet in London.