TI-UK analysis reveals £5.9bn in suspicious funds used to purchase UK properties via shell companies in UK’s Overseas Territories, with over 90% channelled through the British Virgin Islands

Corporate secrecy in the UK’s Overseas Territories plays a central role in enabling corruption, money laundering, and the evasion of tax and sanctions on a global scale. The research highlights the Overseas Territories’ role as global hubs for suspicious and illicit wealth. The secrecy provided by these jurisdictions have made them destinations of choice for corrupt individuals seeking to conceal criminal acts and enjoy the proceeds of their crimes with impunity. Greater transparency is essential to trace these financial flows, not only within the property sector but in the broader fight against corruption and money laundering. Of UK£11.1 billion (US$14.1bn) invested in 1,600 UK properties, since 2016, using funds with dubious origins, half (UK£5.9bn (US$7.5bn)) came via shell companies set up in UK Overseas Territories, with most (UK£5.5bn (US$7.0bn) from entities registered in the British Virgin Islands (BVI)…