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MPs claim offshore secrecy a 'threat' to UK security

UK politicians defend calls for public beneficial ownership registers

Two UK politicians have been trying to justify their calls for the government to force the Crown Dependencies to open public beneficial ownership registers.

The Guardian reports backbench MPs Andrew Mitchell (Conservative) and Dame Margaret Hodge (Labour) have written a letter to the chief ministers of the Isle of Man, Jersey and Guernsey.

It says their concerns were so great they would press ahead with moves to demand transparency, against the will of the three territories.

The letter also says, "Prospective money laundering taking place through the crown dependencies threatens the UK’s national security and is an issue within the jurisdiction of the UK."

Mr Mitchell and Dame Hodge's proposed amendment to a Brexit-related financial services bill was expected to go through last week, until the bill was pulled, to allow ministers more time to study it.

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