Offshore Funds

(asked on 15th October 2021) - View Source

Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what steps he is planning to take in respect of foreign leaders and officials found guilty of bribery, corruption or tax violations as a result of revelations in the Pandora Papers.


Answered by
Amanda Milling Portrait
Amanda Milling
Government Whip, Lord Commissioner of HM Treasury
This question was answered on 25th October 2021

Through the network of overseas Posts, the FCDO is monitoring the consequences of several of the stories associated with the recent Pandora Papers leaks. We understand some investigations are being considered in some countries, but it is too early to say who, if anyone, might ultimately be found guilty of bribery, corruption or tax violations. Irrespective of this, the FCDO remains committed to fighting global corruption and illicit finance. Under our Global Anti-Corruption Sanctions regime established in April this year, the UK has so far imposed travel bans and asset freezes on 27 individuals from 10 countries for their involvement in serious corruption. We continue to fund the vital work of the National Crime Agency's International Corruption Unit, which has restrained, confiscated, or returned over £1.1billion of assets stolen from developing countries since 2006. And we continue to encourage countries everywhere, including through our ongoing Presidency of the G7, to take steps to improve beneficial ownership transparency, so that we can limit the role of anonymous shell companies, as highlighted by the Pandora Papers, in enabling international illicit finance.

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