Whilst anyone working in the area of fraud, anti-corruption, asset tracing and recovery will welcome the introduction of the register, few details have been released about how the register will be policed. Recent experience of Companies House demonstrate the ease with which fraudsters can incorporate companies and file false accounts. As ever, the devil will be in the detail - or its implementation
Foreign firms that own property in the UK will have to declare their assets publicly in a bid to stamp out money-laundering, the government says. Companies will have to be on a new register if they hold property or want to compete for government contracts. The move comes as Prime Minister David Cameron attempts to lead a wider effort to crack down on global corruption. World leaders are gathering in London for a summit aimed at stepping up action to tackle the problem.