In Light of Panama Papers: All British Overseas Territories will Suffer Stricter UK Rules

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Following various data leaks in recent years that have revealed the extent to which British Overseas Territories have been involved in tax evasion schemes; the most notable being the so-called ‘Panama’ and ‘Paradise Papers’.

As a result, the UK government supported an amendment to the Sanctions and Anti-Money Laundering Act 2018 leading to the eventual decision to enforce public beneficial ownership registers of company ownership in the British Overseas Territories which has not been well received by officials from all over the world.