Why is the UK registering companies for criminals?

Every year, formation agents register tens of thousands of companies in London. While many are used for legal purposes, some are vehicles for serious financial crimes like money laundering, sanctions-busting and fraud.
In this explainer, we look at how formation agents work and how they can be misused by criminals.
This video is part of an OCCRP investigation into leaked data from Formations House, a London-based formation agent that has registered companies for alleged international fraudsters, the former leader of the Swedish Hells Angels, and individuals with ties to the Italian mafia.
Read the full investigation here: www.occrp.org/...
Subscribe to OCCRP on UA-cam: / @occrpofficial

[@stchaltin]

Call me crazy, but if you register 400,000 businesses you MIGHT be laundering money.

[@nickkinney2950]

It's the best way to hide financial crime

[@anderslarsen4912]

It's not just "tax heavens" trusts and IBC's in exotic locations. THe whole current system is obviously one major charade. If you work for a salary and you pay your taxes, (you do, because your employer is witholding your share) then you are part of problem because you're financing the current hypocricy. Why would you pay anything in tax when entities that represent the "best" of capitalism do not? Would you participate in Tour de France as the only one NOT taking drugs? Of course not.

[@elukok]

What happens after they leave EU? Will they have to comform to stricter European laws to be allowed to function inside EU?

[@venkateshthevar2213]

This video literally only repeated its title in different sentence formats.

[@SadeN_0]

Some people need to hear the same thing repeated two or three times for it to register

[@greenpedal370]

Forming the company has nothing to do with money laundering. It's up to inland revenue to police companies financial affairs. This hysteria about money laundering is just lazy policing with the government trying to pass enforcement onto the banks and formation agents.

[@wonkysouceaasdsad9664]

Vox format

[@3Fatboy33]

When the typical "panama papers" narration and art style of this video is removed there is really nothing to see here at all. A british company incorporates companys in britain and one of their 400.000 costomers was a swedish hells angel who got arrested. So what?

[@sage5328]

:)

[@itslooigi]

"Prestigious London address"... If its not in America I don't trust it

[@SadeN_0]

😂😂