The British anti-corruption strategy is aimed at avoiding crypto sanctions

The UK government has unveiled a new anti-corruption strategy aimed at strengthening enforcement, closing financial crime loopholes and curbing the use of crypto assets to evade international sanctions.

Deputy Prime Minister and Justice Minister David Lammy announced the strategy on Monday, describing corruption as a threat that “bleeds countries dry, fuels conflicts like Putin’s brutal war in Ukraine and spreads like a stain across borders.”

“We will lead internationally and bring together partners to close the gaps exploited by kleptocrats and organized criminals,” Lammy said in a statement.

“Closer to home, we are strengthening enforcement, rooting out the minority of corrupt actors in our public forces and reforming our courts to tackle complex economic crime. Our message is clear: the UK will not tolerate corruption – now or ever.”

The National Crime Agency estimates that more than $133 billion is laundered in Britain every year. British companies faced 117,000 domestic kickback offers in 2024, worth more than $400 million, damaging legitimate businesses and consumers. The NCA also disrupted Russian money laundering networks in Britain and seized more than $27 million in cash and cryptocurrency.

Tackling corruption

The strategy targets both domestic corruption and foreign actors channeling illicit wealth through Britain.

Public Safety Minister Dan Jarvis said the plan is built around three pillars. First and foremost, it aims to crack down on corrupt actors and their finances through strengthened police enforcement, expanded sanctions, reform of the whistleblowing system, greater transparency of ownership and an overhaul of the UK’s surveillance systems to combat money laundering and terrorist financing.

It will also strengthen Britain’s institutions by raising standards in public life through a new Ethics and Integrity Commission, stricter rules on business appointments and improved transparency around political donations.

And finally, Britain wants to work more closely with foreign partners to strengthen collective defenses against corruption and illicit financing.

“Implementing these measures will make Britain a harder target for corrupt actors and their funds, boost confidence in public life, support investment and strengthen our national security,” Jarvis said.

The strategy builds on an announcement from the Foreign Office on Sunday that Britain will host an international summit on illicit finance in June 2026. The event will bring together governments, civil society and private sector representatives, including major banks, to build a global coalition against black money in the hope of “creating new agreements to tackle modern methods of moving black money, such as money laundering in the real estate sector, the misuse of crypto assets and the trafficking of illegal gold.”

There was no response to a request from Declutter for more information about the misuse of crypto assets.

Daniel Bruce, CEO of Transparency International UK, called the new plan the government’s most ambitious in years, but warned of “critical gaps” in political integrity and party funding.

“The UK still lacks donation limits and reduced spending limits that would provide real insurance against the influence of big money in politics,” he said.

“There is a lack of action on political integrity, with the revolving door effectively not being enforced for ministers, and Westminster remaining woefully opaque compared to its international peers.”

Foreign Secretary Yvette Cooper said the government is “determined to turn the tide,” labeling crypto as “increasingly exploited by people smugglers to stash their profits.”

In a statement, she highlighted new sanctions against global scam networks, actions against oligarchs linked to the Kremlin, and efforts to curb criminals hiding wealth in London properties.

“Dirty money is fueling crime on Britain’s streets and driving conflict and instability abroad,” Cooper said. “Kleptocrats are buying up real estate to launder their ill-gotten gains – driving up housing prices. Profits from the illegal gold trade are fueling Russia’s invasion of Ukraine and the terrible conflict in Sudan.”

“I am starting preparations for the Summit and putting the corrupt people on notice: Britain is ready to silence you,” she added.