Luxurious UK homes used for money laundering

Luxury residential properties in Knightsbridge, London. There is now a high likelihood of buyers using UK real estate to disguise illegal activity, up from a medium risk three years ago, the British government said in a recent report assessing money
Luxury residential properties in Knightsbridge, London. There is now a high likelihood of buyers using UK real estate to disguise illegal activity, up from a medium risk three years ago, the British government said in a recent report assessing money laundering and terrorist financing last year. PHOTO: BLOOMBERG
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Investors are not the only ones who are snapping up all the best homes in London.

The UK property market is increasingly a prime target for money laundering, with London's most expensive homes attracting criminal buyers as a way to hide dirty cash.

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A version of this article appeared in the print edition of The Sunday Times on January 03, 2021, with the headline Luxurious UK homes used for money laundering. Subscribe