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Kleptocracy tour refers to tours of cities where financial flows[1] from kleptocracies are being used to purchase residential property as a means of money-laundering.[2]
The concept was founded by anti-corruption campaigners, started in London in February, 2016 and was modelled on the 'Beverly Hills-type tours of the homes of the stars'.[3] The first tour focussed on properties owned by Russian, Ukrainian and Kazakh klepto-oligarchs[4] congruent with the founders original area of expertise and awareness. The tour garnered widespread press coverage [5][6][7] and sparked strong interest in subsequent tours in London and abroad.
The tours began in early February 2016,[8] after the campaign for a public registry documenting the ultimate beneficial owners of London's offshore companies was rejected.[9] They are organised by the campaign group ClampK which highlights both the local economic distortions [10] caused by these capital inflows and the implicit corruption implied by facilitating this money-laundering by foreign kleptocrats. The tour is planned for expansion in Miami and New York City.[9]
See also edit
References edit
- ^ Jamie McGeever (10 March 2015). "UK draws billions in unrecorded inflows, much from Russia". Reuters. Retrieved 12 February 2016.
- ^ "Private Eye Magazine | Official Site - the UK's number one best-selling news and current affairs magazine, edited by Ian Hislop".
- ^ Henry Williams (9 February 2016). "Move over Royal Family. London's oligarchs are the new tourist attraction". The Spectator. Archived from the original on 6 March 2016. Retrieved 12 February 2016.
- ^ Sally Hayden (5 February 2016). "On Board the Russian Dissidents' 'Kleptocracy' Bus". Vice News. Retrieved 12 February 2016.
- ^ "Russians in London: Government in exile". The Economist. 12 February 2016. Retrieved 12 February 2016.
- ^ Luke Harding (5 February 2016). "Mega-rich homes tour puts spotlight on London's oligarchs". The Guardian. Retrieved 12 February 2016.
- ^ "London's newest sightseeing tour shows homes of Russian and Ukrainian oligarchs". Ukraine Today. 10 February 2016. Retrieved 12 February 2016.
- ^ David Brown (5 February 2016). "On the trail of suspicious money: it's the 'kleptocracy tour' of London". The Times. Retrieved 12 February 2016.
- ^ a b Linda Kinstler (26 March 2016). "London's Latest Tourist Attraction: Russian Oligarchs". Fortune. Retrieved 12 April 2016.
- ^ Roman Borisovich (2 March 2016). "'Kleptocracy tours' expose state failure to stop dirty money buying up London". The Guardian. Retrieved 2 March 2016.
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