LONDON: Britain could revoke so-called "golden visas" already issued to people living in the country, its security minister said on Friday, a day after the government scrapped the programme over concerns about the inflow of illicit Russian money.

Interior minister Priti Patel said on Thursday she had closed the Tier 1 system, which had offered a route to residency for those investing at least 2 million pounds ($2.72 million).

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"There are routes to revoke when needed," security minister Damian Hinds told Times Radio.