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Russian oligarchs in UK told to explain luxury lifestyles
Source: BBC
Russian oligarchs in UK told to explain luxury lifestyles
3 February 2018
Russian oligarchs suspected of corruption will be forced to explain their luxury lifestyles in the UK, the security minister has said.
As part of an organised crime crackdown, Ben Wallace told The Times officials could now seize suspicious assets worth more than £50,000.
He added wealthy foreign criminals would feel the "full force of government".
It is estimated £90bn of illegal cash is laundered in the UK each year.
New Unexplained Wealth Orders introduced this week will allow government officials to keep hold of assets including property until they have been properly accounted for.
-snip-
3 February 2018
Russian oligarchs suspected of corruption will be forced to explain their luxury lifestyles in the UK, the security minister has said.
As part of an organised crime crackdown, Ben Wallace told The Times officials could now seize suspicious assets worth more than £50,000.
He added wealthy foreign criminals would feel the "full force of government".
It is estimated £90bn of illegal cash is laundered in the UK each year.
New Unexplained Wealth Orders introduced this week will allow government officials to keep hold of assets including property until they have been properly accounted for.
-snip-
Read more: http://www.bbc.com/news/uk-42926819
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