SOC ACE researchers attend launch of Economic Crime Manifesto 2.0

Last week, SOC ACE researchers Professor Heather Marquette, Maria Nizzero, keynote speaker Tom Keatinge and others attended the launch of the Economic Crime Manifesto 2.0.

Last week, SOC ACE researchers Professor Heather Marquette, Maria Nizzero, keynote speaker Tom Keatinge and others attended the launch of the Economic Crime Manifesto 2.0.

The event, led by the All-Party Parliamentary Group (APPG) on Anti-Corruption and Responsible Tax, in collaboration with the APPG for Fair Business Banking, introduced updates to a previous manifesto published in 2022.

Some of the previous recommendations have already been adopted, such as reform of Companies House and the establishment of a Register of Overseas Entities owning UK property.

The Economic Crime Manifesto 2.0 contains insights into the current state of economic crime in the UK, and the potential operational impacts of parliamentary objectives and proposals. It acknowledges the progress already made by government but calls for greater transparency.

In their manifesto the cross-party parliamentary group presents a comprehensive approach to combatting economic crime in the UK based on four fundamental principles for ‘pragmatic reform to clean our finance sector:’

1. Transparency: Ensure easy and reliable identification of the true owners of companies, trusts, and assets.

2. Enforcement: Strengthen enforcement agencies with adequate resources to consistently enforce laws and deter wrongdoing.

3. Accountability: Empower Parliament, journalists, courts, and whistle-blowers to uncover criminality and hold the government accountable.

4. Regulation: Reform Anti-Money Laundering rules to supervise professions efficiently and effectively.