London Daily

Focus on the big picture.
Saturday, Aug 01, 2026

Lawyers, accountants and others play key role in financial crime

Lawyers, accountants and others play key role in financial crime

A powerful international organization whose members represent the world’s largest economies has issued a strong warning about the “threats and risks” posed by lawyers, accountants and other facilitators who help their clients commit and conceal financial crimes.

These “professional enablers,” often associated with the secretive offshore finance industry, “undermine not only the rule of law, but their own profession,” says the Paris-based Organisation for Economic Cooperation and Development in a new report. While it stops short of concrete prescriptions, the report includes broad recommendations aimed at “targeting professional enablers and disrupting their activities.”

The “Ending the Shell Game” report, which cites reporting by the International Consortium of Investigative Journalists in its opening paragraph, marks the OECD’s first detailed foray into the realm of criminal professional enablers, a wide term that encompasses a potpourri of whizzes with special skills, including tax advisers, wealth managers, lawyers, accountants, company formation agents and trust companies. Many of the OECD’s 37 member countries, including the United States, the Netherlands and Switzerland are home to hoards of professional enablers and have poor track records in holding the various sectors accountable.

Recommendations for countries include more education about the role of enablers in financial crime and tougher laws to hold them criminally liable. Where lawyers can too easily hide behind client-attorney privilege and refuse to share possible evidence of crime with law enforcement, for example, the OECD suggests that countries consider new legislation.

All countries, the OECD suggests, should create national strategies “to tackle professional enablers who actively participate in tax crimes and other financial crimes.”

The report takes pains to distinguish those complicit in moving and hiding illicit money from professionals who follow the law.

“The majority of professionals are law-abiding and play an important role in assisting businesses and individuals to understand and comply with the law and helping the financial system run smoothly,” the report says. “Such law-abiding professionals are to be differentiated from a small set of professionals who use their skills and knowledge of the law to actively promote, market and facilitate the commission of crimes by their clients.

Professional enablers in the shadows


Poor and wealthy countries alike are under growing pressure to recoup billions of dollars in revenue lost to tax evasion and crack down on financial crime. Tax advisers, lawyers and accountants are valuable partners for rogue actors who need sophisticated structures and clever advice to outsmart law enforcement.

Dr. Katie Benson, a lecturer at Lancaster University Law School who has written extensively on the topic, said that interest in enablers has spiked over recent years. “Increasingly, there is more of a focus on sanctioning people for doing this,” Benson said. “There is a concern that it doesn’t happen enough.”

The OECD’s report highlights examples from around the world of professionals hiding clients’ money, often through shell companies whose owners are hard to trace. In one U.S. case cited in the report, tax advisors prepared fake business losses on tax returns to reduce taxes paid. In another from Sweden and the United Kingdom, the OECD described an incident where an unnamed offshore specialist encouraged customers to communicate through encrypted emails and changed banks to avoid detection by police.

Newsletter

Related Articles

0:00
0:00
Close
Finland Deploys Commercial-Scale Thermal Batteries Using Crushed Rock to Store Renewable Grid Energy
Valued at $109 Million: F-35B Fighter Jet Crashes in Southern California
Sainsbury Agrees to Sell Argos in £120 Million Deal to Private Consortium
High Court Clears Way for Construction of Chinese Embassy at Royal Mint Court
UK Fuel Prices Climb to Multi-Month Highs as Strait of Hormuz Tensions Disrupt Oil Supplies
Severe Summer Drought and Record Heat Put UK Harvests at Risk
Prime Minister Andy Burnham Faces Labour Backbench Opposition Over Potential Support for New North Sea Oil and Gas Drilling
Bank of England Warns Inflation Will Stay Above 3% as Middle East Energy Shock Prolongs Cost-of-Living Pressures
Andy Burnham has Announces Plans to Redistribute Income Tax Revenue to English Mayors
Early-Release Scheme Faces Fresh Scrutiny as Reoffending and Prison Recalls Rise
Police Phone Checks Followed Report on Murder of MI5 Agent Inside Sinn Féin
Archbishop of Canterbury Reaffirms £100 Million Reparative Justice Fund During Ghana Visit
Charities Allege French Police Used Tear Gas Against Channel Migrants
Norwegian Teenager Convicted Over Iran-Linked Murder Plot in Britain
Christian Organisations File Charity Complaints Against Amnesty International UK
Ofgem Tightens Grid Connection Rules for New Data Centres
FTSE 100 Reaches Record High Despite Global Technology Sell-Off
Millions of UK Households Urged to Check Eligibility for Winter Energy Discount
Labour Restores Parliamentary Whips to Diane Abbott and Joani Reid
UK Supreme Court to Hear Challenge Over Palestine Action Ban
UK Commits More Than £8.4 Billion to Dreadnought Nuclear Submarine Programme
England Declares Severe Drought as Wildfire Burns Near Sizewell Nuclear Site
Bank of England Holds Interest Rates at 3.75% as Middle East Tensions Fuel Inflation Risks
Drought Status Extended Across All of Wales as Heat and Dry Weather Deepen Environmental Strain
Record-Low Danube Exposes Probable Mammoth Remains in Bulgaria
UK Business Confidence Climbs to Four-Month High
Greater Manchester Gains Expanded Powers Under Regional Funding Reforms
UK Supreme Court to Hear Appeal Over Palestine Action Terror Ban
Shell's Quarterly Profit Doubles to Nearly $10 Billion on Higher Energy Prices
UK Government Removes VAT From Household Electricity Bills
Exceptional Drought Grips Half of England as Wildfire Threatens Sizewell
Bank of England Holds Interest Rates at 3.75% as Inflation Risks Persist
US Says It Has Carried Out Heavy Strikes on Iran After Attempted Attacks on Its Forces
The chief executive of the popular gaming company laid off many employees and his pay rose to 38 million dollars
UK Employment Holds Steady as Wage Growth Remains Moderate
England to Introduce Artificial Intelligence into Secondary School Curriculum
Wales Launches £1.2 Billion Industrial Regeneration Programme
High Court Upholds UK Digital Surveillance Framework
Northern Ireland Reaches Budget Agreement on Infrastructure and Public Sector Pay
Home Office Expands Digital Border Checks Nationwide
UK Approves Major North Sea Wind and Carbon Capture Project
The World's Most Terrifying Smartphone: Recording, Documenting, and Reporting to the Regime
Scotland Approves Major Renewable Energy Expansion
UK and United States Sign AI and Semiconductor Cooperation Pact
UK Treasury Tightens Fiscal Controls After Gilt Market Volatility
Bank of England Holds Interest Rates at 4.5%
UK Unveils £10 Billion NHS Funding Overhaul and Workforce Reform
The AI User Nightmare: Private Claude Conversations Leaked to the Internet
UK: Former Football Association Leaders Call for World Cup Boycott Over FIFA Privatization Plan
Forbidden Love: China severs millions from their virtual partners
×