- Transparency campaigners sceptical about plans but real estate insiders say the new rules are strong
- London dubbed a 'laundromat' for ill-gotten wealth
The government has made what it hopes will be a major step towards stemming the flow of billions in laundered money sloshing around the UK property market. By introducing a register requiring foreign owners of UK property to reveal their identities, it said it was “cracking down on those criminals attempting to hide their illicitly obtained wealth”.
However, transparency campaigners are less than convinced.