MPs decry ‘failed’ effort to stop UK property money laundering

13th July 2016

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 £100billion was being laundered through the UK every year and astonishing that just 335 out of 1.2million property transactions last year were deemed to be suspicious by law enforcement officials.


Source: Guardian