Corruption Is 'A Problem In The UK's Own Backyard,' Says Aid Agency
The UK Government is coming under pressure from campaigners who say it is not doing enough to eradicate global corruption.
Transparency International released new data showing an increase in corruption worldwide, as it warned that the "opaqueness" of the global financial system was making it "still far too easy for the rich and powerful to exploit," according to UK newspaper The Independent.
Christian Aid said the billions being stolen by the "outrage" of corruption was coming at the expense of vital infrastructure and services, as well as the provision of basic needs like medicine and clean water.
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Tom Viita, head of advocacy at the aid organization, wants British Prime Minister Theresa May to do more to challenge corruption in Britain's Overseas Territories, like the British Virgin Islands and the Cayman Islands.
In particular, he wants to see more done to stamp out "secrecy services" and ensure Britain's Overseas Territories are fully transparent about the ownership of the companies they host.
"Corruption is a sickening injustice committed by powerful people, against everyone else," he said.
"But many forms of damaging corruption rely on a global system that allows money to be secretly moved around - and UK tax havens are a cornerstone of this system."
Earlier in the month, Christian Aid hit out at the UK Government for appearing to have "gone soft" on international corruption as it U-turned on plans to create public ownership registers in its Overseas Territories and Crown Dependencies.
The registers would allow members of the public to access information about the true ownership of companies. Campaigners and politicians who support the measure believe it would make it harder for people to shift money out of their countries and into tax havens for the purposes of avoiding tax.
Dame Margaret Hodge MP, Chair of the cross-party Responsible Tax All Party Parliamentary Group, said: "We recognise the progress made by both the UK Government and the Overseas Territories.
"However, full transparency is key in the battle against tax evasion, money laundering and aggressive tax avoidance.
