UK launches sweeping anti-corruption crackdown targeting lawyers, accountants and bankers
Britain has unveiled a major new anti-corruption strategy aimed at stopping criminals and sanctioned oligarchs from laundering money through the UK, with a particular focus on the lawyers, accountants, bankers and corporate service providers who enable illicit finance.
The plan includes over 120 government commitments and £15 million in new funding to expand the City of London Police’s Domestic Corruption Unit. Authorities say the goal is to close loopholes long exploited by professional “enablers” who help move and hide dirty money through the British financial system.
A central reform will move anti–money-laundering oversight from 22 bodies to a single regulator — the Financial Conduct Authority, creating a unified supervision system for legal, accounting and financial firms. The government says inconsistent oversight allowed bad actors to escape accountability for years.
Under the strategy, officials will pursue practices such as creating opaque company structures, hiding assets offshore, and providing legal or financial services to known corrupt actors. Tools will include broader sanctions use, expanded intelligence sharing between economic-crime agencies, and deployment of AI to track complex laundering networks.
Ministers argue the overhaul is critical for national security and public trust, warning that corruption “makes people poorer and less safe,” damages the UK’s business reputation and distorts markets.
Anti-corruption advocates cautiously welcomed the move. Transparency International UK praised stronger oversight and enforcement powers but said the strategy still avoids core political-integrity issues — particularly unlimited political donations and weak rules on ex-ministers’ lobbying and post-government employment.
The new plan also carries an international dimension, with proposals to strengthen beneficial-ownership transparency, cooperate with global partners and host a corruption summit.
Deputy Editor
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