Britain is set to enforce greater transparency in tax havens after a minister for the U.K. government announced Tuesday it would not oppose a legal amendment proposed by a cross-party alliance of lawmakers.

Some overseas British territories that are notorious for being tax havens for the world's wealthiest, such as the Cayman Islands and the British Virgin Islands, will now be required to reveal beneficial owners of assets held in a register available to the public.

A total of 40 lawmakers, including 19 from the ruling Conservative party and Ed Miliband, the former leader of the Labour opposition party, had forced the hand of Prime Minister Theresa May to debate an amendment on financial secrecy and offshore money laundering. That debate was set to take place Tuesday before the minister's announcement.

The U.K. Foreign Office said Monday it had evidence that a century-old loophole has been exploited by money laundering schemes to move up to $80 billion out of Russia.

Laundering schemes use Scottish Limited Partnerships (SLPs) and Limited Partnerships (LPs), both two types of businesses often owned by legitimate firms, as a way to pass dirty money through the U.K.

It also said that five men were responsible for over half of 8,800 "limited partnership" businesses registered between January 2016 and May 2017, with 17,000 companies registered at just 10 addresses.