UK 'anti corruption champion' Margaret Hodge arrives
Speaking ahead of her meetings with government officials and financial and legal sector representatives, scheduled for September 23 and 24, Baroness Hodge said, “The UK is committed to transparency...
Speaking ahead of her meetings with government officials and financial and legal sector representatives, scheduled for September 23 and 24, Baroness Hodge said, “The UK is committed to transparency and the international fight against illicit finance. Public beneficial ownership registers are an essential tool that helps us all follow the money so that we can expose corruption and money laundering.'' Hodge continued that in today’s global context, secret corporate structures are not just used to launder money. "They are also used to undermine democracies, fund conflicts, and engage in human rights abuses and terrorism.
So transparency is vital for us all, and we share responsibility for ensuring we promote it." 'I look forward to open, collaborative discussions'- Baroness Hodge The Baroness said her visit is an opportunity to engage constructively with leaders and stakeholders in the Virgin Islands to better understand the challenges they perceive in implementing beneficial ownership registers. “I look forward to open, collaborative discussions that support our common goal of strengthening financial transparency.” The Virgin Islands has implemented a system for legitimate access to beneficial ownership registers, but it is not willing to make them public unless it becomes a global standard.
Following her visit, Baroness Hodge will make recommendations on the required next steps to the UK’s Minister of State for the Overseas Territories, Stephen J. Doughty, who oversees the UK’s engagement with the VI on matters, including governance and transparency. This online news site is the sole property of and is operated by Advance Marketing and Professional Services dba Virgin Islands News Online (VINO) in the Virgin Islands.
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