Lloyd Hatton

Lloyd Hatton

Labour — South Dorset

Speaking in the House of Commons on 25 February 2025

Debate

British Virgin Islands: Illicit Finance

Contribution

The BVI will soon close the consultation on its proposal to grant only limited access to a register of beneficial ownership. That proposal means that it will be virtually impossible for even a select few to trace those using the BVI as a place to secretly stash their cash, and this comes some five years after the first deadline to set up a register was missed. I know that the Secretary of State agrees that sunlight is the best disinfectant when it comes to combating illicit finance, so what steps is he taking to ensure that the BVI establishes a genuine and fully transparent register of beneficial ownership?

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