Afterwards, some of the overseas territories voiced their unhappiness at what had been agreed at Westminster. The campaign group Global Witness estimates that £68bn flowed out of Russia via the British overseas territories between 2007 and 2016. A few MPs questioned how effective public disclosure would be. Geoffrey Cox, a Conservative backbencher, said the benefit from transparency would be “a one-hit wonder” and argued that “money will go to where it is darkest” to other global territories where there are no public disclosure requirements. Some overseas territories said they were unhappy with the outcome and tried to question the UK’s ability to impose its will.

Source: The Guardian May 01, 2018 13:34 UTC