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UK Policymakers Clamor for Added Transparency in Offshore Territories


February, 21 2017
watermark Economic news

Policymakers in the UK are pressuring UK PM Theresa May to increase transparency with regards to the business guidelines for offshore territories, including the British Virgin Islands. A total of 80 Parliament members are clamoring for amendments to the Criminal Finances Bill which is slated to be returned to the House of Commons next week. According to these Parliament members, the lack of transparency with regards to the business dealings within offshore territories such as Cayman Islands and Bermuda might be used by criminals as an advantage to hide ill-gotten assets as well as curb tax policies.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.