Expensive London properties are increasingly becoming prime targets for high-value money launderers across the globe, a new UK government report has found.
The national risk assessment of money laundering and terrorist financing 2020 found that corrupt foreign elites continue to buy luxury homes in London and other British cities as an “attractive method to launder illicit funds”.
The National Crime Agency (NCA) as a response has increased its risk level for the sector and enhanced its investigations into the sources of funds used to purchase expensive properties in the UK to prevent dirty money flowing into the country.
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