The Interior Ministry said in a statement that a number of cases involving individuals who illegitimately acquired wealth and were associated with wider corruption have raised security concerns.
In the statement, it was announced that reforms were being made regarding the "Tier 1 Investor visa" in order to prevent abuse, but in the meantime,
the Ministry of Interior had stopped the visa type.
Interior Minister Priti Patel, whose views were included in the statement, said: "I have no tolerance for abuse of our immigration system. I want to make the British people trust the system. My new immigration plan includes stopping the corrupt elites who threaten our national security and smuggle dirty money into our cities."
The "Tier 1 Investor visa", also known as the "golden visa", allows the applicant to live in the UK quickly. A minimum
investment of 2 million pounds was required for visa applications.
The fact that Russian citizens who made their fortunes through corruption had applied for visas was cause for concern.
In a report released by the House of Commons Committee on Foreign Affairs in 2018, the ministers were accused of "risking national security by condoning Russia's dirty money flowing into London".
The Times newspaper also wrote that in the first 8 years of the program, at least 700 Russian citizens benefited from this visa.