UK turns blind eye to dirty Russian money: British MPs
London, May 21: The UK has been accused of turning a "blind eye" to Russia's "dirty money", putting national security at risk. A British parliamentarian body said London is being used to hide Russian President Vladimir Putin's illegal assets, media reports said.
The Commons Foreign Affairs Committee said it was "business as usual" for the UK despite the poisoning of Russian ex-spy Sergei Skripal and his daughter as the UK was being used to stash "corrupt assets" of Putin and his allies, the BBC reported.
A report, named Moscow's Gold: Russian Corruption in the UK, points out that Russian gas giant Gazprom was able to trade bonds in London "days after the attempted murders" of Skripal and his daughter.
This undermined the UK's efforts to confront the full spectrum of Putin's offensive measures, it added.
Business between the UK and Russia had resumed so swiftly following the incident that it had prompted the Russian embassy in London to tweet: "Business as usual?"
Committee Chairman and Conservative MP Tom Tugendhat wrote in the Sunday Times, ahead of the publication of the report that the UK's "lethargic response is being taken as proof that we do not dare stop them... London's markets are enabling the Kremlin's efforts".
Security and Economic Crime Minister Ben Wallace said he had not been called to give evidence to the Committee: "I fear such an omission weakens the foundation of the report," he said.
Wallace said the UK was "determined to drive dirty money and the money launderers out".
"(We) will use all the powers we have, including the new powers in the Criminal Finance Act, to clamp down on those that threaten our security," he added.
Tungendhat said ministers should investigate "gaps" in the sanctions regime which allows the Russian government and individuals linked to Putin to continue to raise funds in the city.
"The scale of damage that this 'dirty money' can do to the UK foreign policy interests dwarfs the benefit of Russian transactions in the city.
"The UK must be clear that the corruption stemming from the Kremlin is no longer welcome in our markets and we will act," the BBC quoted Tugendhat as saying.
The committee's report urges the government to show "stronger political leadership" on the issue by taking a number of actions, including: further sanctions against "Kremlin-connected individuals"; closing loopholes in the existing sanctions regime and speeding up plans to disclose transparent corporate ownership."
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Mangaluru man duped of Rs 10.55 lakh in Instagram ‘digital gold’ investment scam
Mangaluru: A 57-year-old man has allegedly been cheated of Rs 10.55 lakh by online fraudsters who lured him into investing in a so-called digital gold trading platform through Instagram, Deccan Herald reported on Tuesday.
According to the complaint, the victim was browsing Instagram at his residence on November 12, 2025, when he received a message from an account named “Suhani Patel.” The accused initiated a friendly conversation and later persuaded him to invest in the “digital gold market,” promising high returns.
The accused subsequently shared a mobile number and sent a link via WhatsApp, asking the complainant to install an application called “Kanak Daam Exchange.” Following the instructions, the victim downloaded the app and registered.
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The accused told the complainant that all transactions would be handled through the app’s customer service. Following their instructions, the complainant contacted the customer service through the app and sent a message requesting US dollars in exchange for Indian rupees. He was then directed to transfer money to specific bank accounts provided by the accused.
Trusting the claims, the complainant transferred Rs 1,50,000, Rs 3,45,000 and Rs 5,60,000 in multiple transactions, amounting to a total of Rs 10,55,000.
Subsequently, the app displayed that his total investment had grown to Rs 60 lakh. However, when he attempted to withdraw the amount due to personal financial needs, the request was denied. On contacting customer service, he was informed that he would have to pay 30 per cent of the total amount as “tax” before any withdrawal could be processed.
Growing suspicious, the complainant reportedly consulted officials at Canara Bank, who advised him that it was a fraud and warned him not to transfer any more money. When he confronted the accused, the amount displayed in the app was allegedly reduced to zero, and he was blocked from further communication.
Despite further attempts to contact “Suhani Patel,” the accused allegedly continued to assure him that the lost money would be returned, before eventually blocking him.
The complainant stated that he was cheated between November 12, 2025 and February 27, 2026, and has urged police to take action against the fraudsters.
A case has been registered, and further investigation is underway.
