Britain gets out the broom to clean up dirty money in London property
New law will allow the seizure of homes from foreigners who cannot explain how they paid for them
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
London
BRITAIN took a significant step towards exposing dirty money in the London property market last week, passing a law allowing the seizure of homes from foreigners who cannot explain how they paid for them.
Anti-corruption campaigners hailed the "unexplained wealth orders" as a potentially game-changing tool to stop wealthy individuals from laundering their money through mansions in the affluent London boroughs of Knightsbridge and Hampstead.
Copyright SPH Media. All rights reserved.
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Beijing’s calculated silence on the Iran war
DPM Gan warns of 3 structural shifts to the global system that will bring greater challenges – and opportunities
