Ahead of a summit in London, David Cameron has called for a wider international effort to crack down on money-laundering. Once again, the focus is on the London property sector.
British Prime Minister David Cameron has announced that foreign companies owning property in the U.K. will have to declare their assets publicly in a crackdown on money-laundering.
We also know that some high-value properties, especially in London, are being bought by people overseas through anonymous shell companies, using plundered or laundered cash. So we will insist that all foreign companies that own properties in the UK will also have to register publicly who really controls them, and that no foreign company will be able to buy UK property or bid for central government contracts without joining this register. We will clean up our property market and send a clear message to the corrupt that there is no home for them here.