Margaret Hodge said the UK thought itself to be a “country of integrity, respectability and trustworthiness”. However, recent money-laundering scandals featuring Azerbaijan, Russia and the offshore industry showed this self-belief to be “flawed”, she told parliament. She told MPs that UK corporate structures were being used for a wide range of crimes, including tax evasion and bribery. The business minister Margot James said the government was considering reforms to stop criminals from exploiting UK companies. It had “serious concerns” about the way in which Scottish limited partnerships – two of which were used in the Azerbaijan Laundromat – were being abused, she said.

Source: The Guardian October 19, 2017 18:00 UTC