What links the UK with the theft of over a billion US dollars from Moldovan banks and the global money laundering schemes operated through the infamous Russian and Azerbaijani “laundromats” that allowed more billions of US dollars of dirty money to be laundered through shell firms overseas into apparently clean money? The answer is UK limited partnerships (LPs) and limited liability partnerships (LLPs).
As anti-corruption watchdog Transparency International and others have highlighted, these types of organisation are used for serious wrongdoing, including money laundering, political corruption and worse.
