Role Model

David Cameron is to counter claims that his campaign against international corruption is hobbled by London’s reputation as the money laundering capital of the world by introducing a new corporate offence for executives who fail to prevent fraud or money laundering inside their companies. Writing in the Guardian ahead of an anti-corruption summit in the capital, the prime minister reveals plans to require all foreign companies buying property in the UK to disclose their true owners in a public register for the first time. By extending a corporate failure to prevent clause to fraud and money laundering, the government’s intention is to go further than merely requiring firms to prevent bribery and tax evasion. Should an employee be charged with money laundering, the company will be deemed liable if it cannot show that it had put procedures in place to prevent money laundering and fraud. Cameron describes corruption as “one of the greatest enemies to progress” and...