On 19 August 2017, Bellingcat published an article regarding the new Persons of Significant Control (“PSC”) requirements introduced by the government, intended to deter the owners of Scottish Limited Partnerships (“SLPs”) from using the vehicle’s unique opaque structure as a means to conduct criminal activity. Subsequently, as reported by the Guardian and the OCCRP, SLPs were used to launder the proceeds of another multi-billion money laundering scandal, this time the Azerbaijani Laundromat, hot on the heels of numerous stories revolving around SLPs and their widespread use by money launderers and fraudsters all around the world.
Now that the deadline has …read more
Source: bellingcat