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London Luxury Homes Are a Prime Location to Hide Dirty Money

  • U.K. residential sector attracts money launderers: government
  • Pandemic makes real estate more vulnerable, report finds
Residential properties in London's luxury Belgravia district. 

Residential properties in London's luxury Belgravia district. 

Photographer: Simon Dawson/Bloomberg
Updated on

The U.K. 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.

There’s now a high likelihood of buyers using U.K. real estate to disguise illegal activity, up from a medium risk three years ago, the U.K. government said in a December report assessing money laundering and terrorist financing this year. The findings also upgraded the risk to the estate agency sector to medium.