P&P sanctions expert Anna Bradshaw comments on the new UK corruption sanctions in MoneyLaundering.com
On Monday, the UK announced the introduction of a new sanctions regime targeting corrupt officials worldwide, immediately blacklisting 22 individual for their involvement in notorious corruption cases in Russia, South Africa, South Sudan and Latin America. Foreign Secretary Dominic Raab said that the Global Anti-Corruption Sanctions Regulations would help UK officials combat serious corruption by imposing asset freezes and travel bans on parties suspected of bribery or embezzlement, as well as on firms and professionals who enable those crimes and launder the proceeds.
Speaking to MoneyLaundering.com, Anna Bradshaw notes that, “…rather than adopt an entirely new program of anti-graft sanctions, UK officials could have expanded Britain’s existing human-rights regime to capture corruption, much like the U.S has done with the 2016 Global Magnitsky Human Rights Accountability Act. “The government’s approach will have been driven by the desire to cement the U.K’s reputation as a global leader on sanctions”, she adds. Read more.