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TIPS Newsletter | Nov 2025 - TI-UK Report Release: Opening Up Offshore Secrecy

Dear TIPS member,


In November 2025, TI-UK published “Opening Up Offshore Secrecy,” assessing whether UK Overseas Territories (UKOTs) are delivering meaningful access to beneficial ownership data. Nearly a decade after the Panama Papers exposed how offshore structures enable tax abuse, money laundering, and corruption, the report asks whether promised reforms have reduced the secrecy that drives global financial crime. It concludes that limited access to beneficial ownership information continues to weaken the UK’s financial integrity and undermine its credibility as an anti-corruption leader.


The report’s key findings show that progress remains slow. Seven years after Parliament called for public registers, many UKOTs have missed political commitments, legislative deadlines and operational milestones, raising concerns about their willingness to implement genuine transparency. Meanwhile, offshore secrecy continues to enable the diversion of public funds, the laundering of criminal proceeds, and the concealment of corrupt networks, with anonymous companies linked to major cases of corruption and money laundering totalling over US$327 billion.


A central barrier identified in the report is the shift from public registers to “legitimate interest” systems. Developed inconsistently and falling short of AMLD6 standards, these models are costlier, more complex and offer weaker transparency. They restrict the ability of journalists, civil society and foreign law enforcement to trace illicit finance, risk providing incomplete or unusable data, and may even alert individuals seeking to hide assets.


With only a handful of jurisdictions establishing fully public registers, TI-UK urges the UK Government to ensure meaningful access to beneficial ownership data and to reaffirm public registers as the long-term objective.


Please see below the TIPS Newsletter for November 2025. We look forward to seeing you soon.


 - the TIPS team



1. Upcoming Events (register on our Events page)


TIPS | Christmas Social Event | 9 Dec 2025 | 7-10pm GMT | London


TIPS | Human Rights in Focus: International Justice and Corporate Responsibility | 28 Jan 2026 | 6.30-9pm GMT | London


Business Crime Conference 2025 | 8 Dec 2025 | 8am-1pm GMT | London. Register here.


The Key to Ethical AI Adoption: Building Your AI Strategy | 12 Dec 2025 | 10am-12pm GMT | London. Register here.


Shaping virtual assets regulations fit for the future | 16 Dec 2025 | Online. Register here.



2. Recent Events


Indulging Kleptocracy and the Battle Against Transnational Enabling


On 25 November, the TIPS Network welcomed Dr. Tena Prelec of the University of Rijeka and Tom Mayne of the University of Exeter.


The speakers discussed insights from their book, Indulging Kleptocracy, exploring how professional networks enable kleptocratic wealth; its core arguments on incumbency, alliances and enabling effect; and why enforcement remains weak despite existing legal frameworks.


We thank Mayer Brown for kindly hosting, and TIPS Network Committee Member Daniel Figueroa for facilitating the session.



3. Jobs Board


Financial Intelligence Officer, Financial Conduct Authority, London, Leeds, and Edinburgh. See here.


Chief Investigator, Criminal Investigation, The Insolvency Service, UK. See here.


4. Items of Interest

TI publications

  • Creating Access: Strengthening And Expanding Information Governance In Defence. See here.

  • Digital disclosure of political finance in Africa, Asia and the Pacific, and Latin America and the Caribbean. See here.

TI blogs

  • How business can promote integrity in climate action following COP30. See here.

  • Seven years on the UK’s offshore centres are still failing on transparency. See here.

  • Embedding good practice in the defence sector amidst rising military spending. See here.

TIPS Members’ Voices

  • Unpacking banks’ response to societal expectations: An NLP analysis of European banks’ discussion of climate change by Jasmine Elliot et al. See here.

Other items

  • The University of Rijeka (Croatia) is launching a new English-taught Minor in Political Transformations, now open for enrolment. See here.

  • From Moscow to Paisley: How a blacklisted Russian oligarch secretly invested in Scottish car parks.  See here.

  • New tracker sheds light on the effectiveness of anti-money laundering supervision. See here.

5. One Minute Reads


New One Minute Reads have been uploaded to the TIPS website. Please do click the link to read more – perfect for your morning/evening WFH coffee break!



6. Focus on...


Anthea Frank

Paralegal Bauer at Media Outdoor / Future Trainee at Clifford Chance


Why did you get involved with the TIPS network?


I was initially introduced to TIPS after relocating to London from the UNODC in Vienna to start my career in commercial law. TIPS offered a supportive community of like-minded professionals, which allowed me to fully grow into my new career, connect with passionate individuals in the industry and embrace my interest in anti-corruption.


Please describe your experience as part of the TIPS Network.

 

I first joined TIPS as a mentee on the TIPS Mentoring Programme, which offered incredibly valuable advice and guidance. Having gained such meaningful inspiration, I joined the Managing Committee in September. I am especially passionate about human rights in the context of anti-corruption and transparency.


Connect with Anthea on LinkedIn.

 
 
 
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