Directors of Overseas Companies and the EC(TE)A: How Directors of Overseas Companies May Be Impacted by the UK’s Economic Crime (Transparency and Enforcement) Act 2022
The Economic Crime (Transparency and Enforcement) Act 2022 is the UK’s latest[1] piece of legislation in the fight against dirty money and the enforcement of financial sanctions. It contains a number of provisions that should be of particular concern to directors[2] of overseas companies, especially those of companies with legitimate activities which fall within the scope of the Act without being its ‘targets’, as the Act sets civil and criminal penalties (including imprisonment) for a number of the offences it introduces.
