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MONEY LAUNDERING

London's Luxury Homes are a Prime Target to hide 'Dirty Money': Report

London's Luxury Homes are a Prime Target to hide 'Dirty Money': Report

  • The property market in the United Kingdom is increasingly becoming a prime target for money laundering, with London's most expensive property attracting criminal buyers from the around the world to hide ill-gotten wealth.
  • The onset of the coronavirus pandemic has only made the real estate sector more vulnerable to dirty money, as the dwindling demand for expensive and extravagant homes makes it more susceptible to exploitation from criminal entities.
Updated 24 Dec, 2020 05:24pm
PM Khan welcomes Joe Biden’s ‘declared intent’ to target dirty money, offshore tax havens
World

PM Khan welcomes Joe Biden’s ‘declared intent’ to target dirty money, offshore tax havens

  • "Developing countries are being impoverished by their corrupt elites who launder money to richer countries and offshore tax havens," the PM tweeted.
  • "I will lead efforts internationally to bring transparency to the global financial system, go after illicit tax havens, seize stolen assets, and make it more difficult for leaders who steal from their people to hide behind anonymous front companies," Biden wrote.
Updated 09 Dec, 2020 11:39am
India raids Chinese entities for money laundering
World

India raids Chinese entities for money laundering

  • Since the clash, Prime Minister Narendra Modi's government has taken steps such as banning some Chinese mobile-phone apps,
  • Chinese individuals, their allies and a couple of bank employees were involved in money laundering through a series of shell companies.
Published 12 Aug, 2020 02:33am