UK admits that 28,000 Scots shell firms breach transparency rules
DAVID LEASK RICHARD SMITH
sustained campaign to clamp down on harmful SLPs, which have recently proved themselves to be lucrative vehicles for international criminal activity.
“The implication that SLPs failing to comply with regulation should be prosecuted by the Crown Office serves another example of why action is needed.
The Crown Office, led by Lord Advocate James Wolffe QC, would be responsible for prosecuting non-compliant partnerships.
“In contrast to what their name may suggest, the creation and operation of SLPs is reserved. Following the SNP campaign the UK Government launched a consultation; this closed back in March and we are yet to hear what the next steps will be.”
Duncan Hames, of Transparency International, said: “SLPs are a known vehicle for money laundering, enabling theft on a grand scale from whole populations. The recent move to identify the real people behind SLPs is a welcome step but this law must be enforced.”
A Crown Office spokeswoman said: “We will consider any prosecution report for any alleged breach of the new regulations.”