Is Scotland a Safe Haven for Fraud?

Scottish Limited Partnerships have attracted press attention in recent months, due to their increasing prevalence in fraudulent activity. Of note, is the reported role of 20 Scottish Limited Partnerships in the high profile Moldovan bank fraud with losses estimated at $1 billion. A recent documentary on Radio 4's File on Four programme revealed that in the last four years over 8,000 new Scottish Limited Partnerships have been registered and expressed concern that not all of those have been registered for legitimate business purposes, but rather to mask fraudulent and money laundering activities. In this article, the author discusses why there is a popularity of Scottish Limited Partnerships.