Several UK-based anti-corruption and tax justice organisations have criticised Anguilla for missing a “critical deadline” for the introduction of a public beneficial ownership register.
In a joint statement they said three other key UK overseas territories – Bermuda, the British Virgin Islands, and the Turks and Caicos Islands – also failed to meet the end of June implementation date.
The lack of access to the company data “undermines the UK’s credibility on anti-corruption, damages our economy, weakens our national security, and fuels global injustice”, the statement read.
Writing a day after the deadline on 1 July, the watchdog groups said the “continued resistance to transparency” from UK offshore financial centres cannot be ignored.
They urged the UK government to “escalate its response” if any overseas territory continues to “defy the will of the UK parliament”.
“All legal and constitutional options should be on the table to ensure these commitments are delivered in full and without further delay,” the statement said.
Commitment to the UK
Beneficial ownership registers are official lists showing who owns and controls companies, aiming to help prevent money laundering, tax evasion and other financial crimes.
All of the UK overseas territories with financial centres committed to make their registers publicly accessible in 2020, following an amendment to the Sanctions and Anti Money Laundering Act (2018).
The UK expected them to have live registers by the end of 2023. However, the deadline came and went.
At the November 2024 Joint Ministerial Council, the Anguilla, Bermuda, the BVI, the Cayman Islands and the Turks and Caicos Islands committed again to provide access to their registers.
This time they said the registers would be made available to those who could demonstrate a legitimate interest in tackling money laundering and its predicate offences – an approach adopted by the EU.
They all agreed to have legislation in place by April 2025, and for the implementation of the registers by the end of June.
Missed deadline
According to the watchdog statement, only Gibraltar and Montserrat had fully respected the deadline and introduced publicly accessible registers of beneficial ownership in 2020 and 2024.
The Cayman Islands launched a register in February 2025, but the groups said it falls short, as it does not allow “meaningful and repeated” access to journalists, civil society organisations and academics.
After publication of the letter, the transparency groups learned that the TCI and St Helena had also both launched legitimate interest access registers of beneficial ownership on 30 June.
Meanwhile, the Government of Anguilla has passed primary legislation required for a register, but is still in the process of implementation.
Speaking in UK parliament on 3 July, Stephen Doughty, UK minister responsible for the overseas territories, said Anguilla is progressing towards completion later this quarter (July to September).
“We remain in close contact to support timely delivery. I welcome the discussions I have had with the new Premier Richardson Hodge,” he said.
Threat to UK
The group said without action “dirty money will continue to flow through the UK’s backdoor”, enabling organised crime gangs and money launderers to hide their wealth, evade sanctions and damage the economy.
“Inaction will also see tax abuse and illicit financial flows continue to disproportionately harm lower-income countries in the Global South,” the statement added.
The transparency organisations said to support potential further disciplinary action, the UK government should clearly define what constitutes meaningful access.
This should include accurate and timely ownership data, broad access for key public interest groups, and strong legal protections for those using the information to combat financial crime, it said.
The statement was signed by the UK Anti-Corruption Coalition, Transparency International UK, Finance Innovation Lab, International Lawyers Project, Spotlight on Corruption, The Fair Tax Foundation, Christian Aid and Tax Justice UK.
Anguilla Focus has contacted the Ministry of Finance and is awaiting further information.
