Property News · May 20, 2019

UK property register 'needed urgently' to stop money laundering


MPs and peers say plans for register of foreign-owned property should not be delayedProposals for the first register of foreign-owned property aimed at preventing “McMafia-style” money laundering should be put in practice urgently and reinforced to plug potential loopholes, the government has been told.Draft legislation contains insufficient verification checks to deter criminals from submitting false information and could allow those exploiting trusts to circumvent controls, MPs and peers have said. Continue reading…

Source : theguardian.com
Read more…UK property register ‘needed urgently’ to stop money laundering

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