SCOTTISH FIRMS LOOM LARGE IN UKRAINE DIRTY MONEY BLACKLIST

On 16 May, The Scotsman carried a feature on how an analysis of Ukrainian government public records gives another glimpse at just how often UK corporate entities are being red-flagged in that country.  It found that more than 700 Scottish, English, Welsh and Northern Irish firms are “blacklisted” in Ukraine.  It says that the businesses are all listed on a searchable database of thousands of international corporate entities subject to special sanctions, usually because of suspicious money transfers.  It is said that Ukraine introduced its blacklist at the turn of the century as it tried to stem capital flight and address irregularities in the movement of money.  It lifted its regime of special licensing in 2019 but the economy ministry still publishes a searchable database of international companies which were subject to the rules.

https://www.scotsman.com/news/politics/revealed-scottish-firms-loom-large-ukraine-dirty-money-blacklist-2855719

 

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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