In January 2024, the Joffe Trust convened a lively briefing for funders on fixing the UK’s dirty money problem.

The event was well attended with expert input from:

  • Oliver Bullough, author of Butler to the World, on the jaw dropping scale and impact of the problem.
  • Sue Hawley, Director of Spotlight on Corruption, on the coalition that has made such recent progress.
  • Margaret Hodge MP, on the work ahead to keep ‘turning the tanker around’ and cement fundamental change.

Discussion focused on four points:

  1. The catastrophic harm of the UK’s dirty money problem. It is estimated by law enforcement at hundreds of billions of pounds per year. It aids and abets corruption around the world, pollutes the UK, undermines the climate fight and drives inequality. It is a key link in the vast global problem of illicit finance.
  2. The effectiveness of the coalition of UK civil society, journalists and politicians in securing key changes in recent years, for instance in driving transparency, strengthening corporate accountability and improving crucial laws. They are respected & influential, achieving many of the aims set out two years ago.
  3. The UK’s dirty money problem can be fixed. With recent momentum, the next few years are crucial. Progress remains fragile and is actively opposed. The road ahead may not run straight. But committed, expert teams are working together on the next set of priorities, who must continue to keep the pressure up. New laws must be properly implemented, loopholes closed and enforcement strengthened.
  4. Funders can be part of the solution, closing down ‘Londongrad’ and making the UK hostile to dirty money. Their coordinated support over the next few years could provide the coalition with the security they need to see this work through.

This issue is our main priority at the Joffe Trust. We’re always keen to work with others. Please don’t hesitate to get in touch.

Photo by Darya Tryfanava on Unsplash