David Cameron, British Prime Minister is speaking out against money laundering through property in Britain, amid concerns that rising property prices in the country are fuelled by corrupt cash.
According to released excerpts of a speech he is to give in Singapore on Tuesday:
“The UK must not become a safe haven for corrupt money from around the world.”
“I want Britain to be the most open country in the world for investment. But I want to ensure that all this money is clean money.”
British properties, London in particular, "are being bought by people overseas through anonymous shell companies, some with plundered or laundered cash",
Counter measures against corrupt money:
Beginning this autumn, the Britain’s Land Registry will start publishing information on property owned by foreign companies. The government will also begin consultation on measures to increase transparency in property ownership by foreign businesses.
More than 36,000 London properties are owned by offshore companies.
Over 100,000 property titles in Britain are registered to overseas firms.