UK moves to speed up assets recovery for Sri Lanka, others

13 May 2016 11:54 am - 22     - {{hitsCtrl.values.hits}}


The Global Forum for Asset Recovery will bring together governments and law enforcement agencies to discuss returning assets to Nigeria, Ukraine, Sri Lanka and Tunisia, the BBC reported on Thursday.

The meeting will be held in the US next year, co-hosted with the UK, and supported by the UN and the World Bank.

UK Prime Minister David Cameron made the announcement at a global anti-corruption summit in London on Thursday.

It was being hailed as the first of its kind, bringing together governments, business and other organisations.

There has been concern recently that the UK, particularly London, had become a place where rich foreigners could buy properties but hide their true ownership.

Mr. Cameron said that to stop that, foreign firms which own property in the UK must declare their assets in a public register.

Downing Street said Mr. Cameron's plans would include those who already owned UK property as well as those seeking to buy it.

It said the register would mean "corrupt individuals and countries will no longer be able to move, launder and hide illicit funds through London's property market, and will not benefit from our public funds".

It said foreign companies owned about 100,000 properties in England and Wales and that more than 44,000 of these were in London.

Five other countries including France, Kenya, the Netherlands, Nigeria and Afghanistan have also pledged to launch public registers of true company ownership. Australia, New Zealand, Jordan, Indonesia, Ireland and Georgia announced initial steps towards similar arrangements.

  Comments - 22

  • Maya Friday, 13 May 2016 12:05 PM

    Ah, a worry for former ruling family

    mm Friday, 13 May 2016 12:06 PM

    these fellow dont have anything to do in their countries via DM iOS App

    Wijedasa Friday, 13 May 2016 01:21 PM

    Tip top news.

    Harry Saturday, 14 May 2016 10:39 AM

    Do you know of any? Help the government as they couldn't find any?

    Wesko Friday, 13 May 2016 01:24 PM

    Well come and appreciated UK move. By Sri Lanka..

    Dee Friday, 13 May 2016 01:42 PM

    If US also agrees, former ruling family finnished.

    Harith Saturday, 14 May 2016 11:13 AM

    Why not first publish a public property register in Sri Lanka, before trying to check property registers of other countries. If including everyone's name is a risk for their security atleast it should include all politicians and their close family members and all high ranking government officers.

    Nirosha Friday, 13 May 2016 01:56 PM

    good move

    Cheers Friday, 13 May 2016 01:57 PM

    How come Cameron got away with Panama and off shore assets which he did not declare and Kerry next to you will be gone in November after elections

    onlooker Friday, 13 May 2016 02:01 PM

    Are u sure? May be even the present group, as things are going on it looks that.

    NARAYANA Friday, 13 May 2016 02:03 PM

    Worry for Politicians and corrupt police officers, we well come world move

    PUN Day Friday, 13 May 2016 02:51 PM

    Also officers who supported drug dealers and fled officially.

    lal Friday, 13 May 2016 03:22 PM

    What a about David Camaroon Father's Assets

    kumar Friday, 13 May 2016 10:24 PM

    What about the recovery of assets ,that has robbed from Asian countries by Britishers during the colonial period

    Ferpogson Saturday, 14 May 2016 12:41 AM

    Hope they will be able to shed some light on CBK'S assets.

    Hiran Saturday, 14 May 2016 01:56 AM

    Bad news not only for the previous government officials but for present government too and the UNP Ministers who ruled the country for 17 long years before the previous government. via DM iOS App

    sam Saturday, 14 May 2016 03:44 AM

    Very Good Move. Cameron should give an example to the world (being so HUMBLE) by returning all the Artifacts and the Wealth taken from the developing world to the Briton by occupational forces of the then British Empire.

    Dot Saturday, 14 May 2016 04:47 AM

    Not clear what these assets are that hurt only these countries Nigeria Ukraine SriLanka and Tunisia .What period of economic History is referred to .Vague statements does not help the questing reader of your tabloid ..only makes a headline ..

    Ratnayake Saturday, 14 May 2016 05:24 AM

    If what UK suggests happen, Chandrika also will be in the net and Peiris, Lokubandara and many other so called Rich fellows from Sri Lanka.

    Sharon Saturday, 14 May 2016 07:45 AM

    Nothing will happen via DM iOS App

    Premalal Saturday, 14 May 2016 07:54 AM

    Mr Lal. Let The UK worry about David Cameron and let us get our money back from the cooks who while serving the people dipped their fingers into the people's pockets.

    SUN NI Saturday, 14 May 2016 08:57 AM

    Please seize the properties of Mara family

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