Property News · July 15, 2016

MPs decry 'failed' effort to stop UK property money laundering


Committee says £100bn is being laundered each year and its chairman says system for tackling problem is ‘futile and impotent’Government attempts to stop the UK property market being exploited by international money launderers are “totally inadequate” and the country has instead “laid out a welcome mat” to criminals, the House of Commons home affairs committee has said.The influential panel of MPs, chaired by the Labour backbencher Keith Vaz, said it was disgraceful that at least £100bn was being laundered through the UK every year and astonishing that just 335 out of 1.2m property transactions last year were deemed to be suspicious by law enforcement officials. Continue reading…

Source : theguardian.com
Read more…MPs decry ‘failed’ effort to stop UK property money laundering

You may also like...