Accountants, lawyers and PR executives will be offered 250,000 to blow the whistle on corrupt Russian oligarchs under Labour plans.
In his speech at the Labour Party conference in Liverpool on Monday, David Lammy will unveil a new reward scheme aimed at tracking down assets linked to illicit finance.
The shadow foreign secretary has made shutting down the “London laundromat” of corrupt foreign money channelled through the UK one of his main priorities if Labour wins the next election.
According to a report by the Commons Foreign Affairs Committee in 2022, London is a “hub for illicit finance”, with assets laundered through the UK helping to finance Vladimir Putin’s war in Ukraine.
The committee also found that “enablers” of illicit finance such as lawyers, bankers, PR managers and estate agents are helping the corrupt to conceal their wealth in Britain.
In his speech, Mr Lammy will argue that dirty money laundered through the UK helps to prop up autocratic regimes and fuels crime on British streets.
While 1,627 Russian individuals and 238 entities are now subject to UK sanctions against Russia, Labour points out that so far there have been no enforcement measures taken against individuals or companies since the invasion of Ukraine.
To “turn up the fight against kleptocracy”, Mr Lammy will announce a reward scheme for whistleblowers.
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