Whistleblowers who expose stolen assets and sanctions breaches would be rewarded under a future Labour government, according to David Lammy.
The shadow foreign secretary said Labour wants to make the UK the “anti-corruption capital of the world” as he criticised the Government’s approach.
Speaking at the Labour Party conference in Liverpool, Mr Lammy said: “When I visited Kyiv, anti-corruption campaigners told me Britain must stop (Russian president Vladimir) Putin’s cronies laundering their dirty money in our capital.
“Dictators’ stolen cash fuels crime on our streets and turns Londoners’ homes into the bitcoins of kleptocrats. Labour will turn up the fight against kleptocracy.
“That’s why today I’m announcing a new whistleblower scheme to reward those who expose stolen assets and sanctions breaches and help to recover misappropriated funds.
“Under the Tories, Britain became the money-laundering capital of the world. With Labour, Britain will be the anti-corruption capital of the world.”
Mr Lammy also said Labour wants to work to improve the UK’s relationship with the EU after earlier stating: “Labour values do not stop at the English Channel.”
He said: “If you have forgotten that Britain’s trade with Europe is a priority for our economy, you need to wake up.
“If you’ve forgotten Britain’s alliances in Europe are a priority for our security, you need to wake up.
“If you’ve forgotten we need to work with Europe to tackle organised crime, you need to wake up.”
He added: “With Labour there will be no return to the single market or the customs union.
“But (Labour leader) Keir Starmer is committed to improving our relations with the EU, delivering Britain a much better deal and seeking a new security pact to keep our country safe.”
Shadow defence secretary John Healey insisted a Labour government would continue to support Ukraine, as he claimed that five more years of the Conservatives in power would be a risk to Britain’s international security.
He said: “From this conference, let Putin be in no doubt, there may be a change to Labour next year, but there will be no change to Britain’s resolve to stand with Ukraine, to confront Russian aggression, and to pursue Putin for his war crimes.”
Mr Healey later promised a Labour government would “accelerate” the promised £2 billion armed forces spending made by the Government to “rearm Britain, resupply Ukraine, and boost British industry”.
He added: “The greatest risk to the UK’s defence is another five years of Conservatives.”