On 21 December, the Guardian said that luxury London homes are an “attractive method to launder illicit funds”, a government report has said. The latest national risk assessment for money laundering has upgraded the risk level for the sector, saying: “corrupt foreign elites continue to be attracted to the UK property market, especially in London, to disguise their corruption proceeds”. Estate agents had their risk upgraded from low to medium and there were signs that some in the market for high-end homes were failing to comply with rules.
Property sector and money laundering risk
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