More than 120 fines have been issued to offshore companies for breaches of anti-corruption laws introduced to try to keep dirty money out of the UK property sector.
Under legislation introduced in August last year after Russia’s invasion of Ukraine, foreign companies that own property in the UK were required provide details of their ownership at Companies House by the end of January this year.
The Times reported in April that none of the 5,000 companies that failed to meet the January deadline and declared late had been fined, despite the government having the power to levy a fine of £2,500 for each day of non-compliance.
It prompted criticism, including from Dame Margaret Hodge, the Labour chairwoman of the all-party parliamentary group on anti-corruption and
