Prime Minister to crack down on foreign criminals buying homes with ‘dirty money’ (That’s UK’s David Cameron, not Canada’s Stephen Harper)

London St. Paul'sThis article by John Stevens appeared in the Daily Mail, a UK newspaper, dated 27-July-2015. One might wonder what Canada’s Prime Minister Stephen Harper is going to say or do about this international topic. Or any of the candidates in the upcoming federal election. It seems that many properties are purchased and owned by numbered companies in Canada. What have our governments been doing to stay on top of this issue? Ask your elected officials, candidates, and stay tuned! (Excerpts are below. Please visit website for the full text.)

A related story in the South China Morning Post (“Britain aims to crack down…”) quotes Polly Sprenger (specialist in corporate and economic crime at Eversheds): “For real advancement, the government would need to insist on exposure of the ‘ultimate beneficial owner’, that is, the individuals behind the corporate front.”

So the UK is taking the lead on this campaign. Will Canada join in?

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PM’s crackdown on foreign criminals buying up UK homes with ‘dirty money’: Cameron announces clampdown on overseas buyers behind anonymous companies

  • Laundering has been blamed for pushing up house prices across Britain
  • PM will use Singapore speech to call for a global effort to tackle corruption
  • He will announce that a list of all properties in England and Wales owned by foreign companies will be published in the autumn

  • David Cameron will today [that was July 27 local time] pledge to stop foreign criminals laundering billions of pounds through the purchase of expensive properties – which has been blamed for pushing up house prices in the UK. The Prime Minister will declare there is no place for ‘dirty money’ in Britain as he announces an intention to clamp down on overseas buyers hiding behind anonymous companies.
  • He will use a speech in Singapore to call for a global effort to tackle corruption – ‘one of the greatest enemies of progress in our time’.
  • The Prime Minister will declare there is no place for ‘dirty money’ in Britain as he announces an intention to clamp down on overseas buyers hiding behind anonymous companies
  • As part of a bid to tackle the problem in Britain, he will announce that a list of all properties in England and Wales owned by foreign companies will be published in the autumn. The Government will also begin a consultation on ways to make property ownership by foreigners more transparent so criminals cannot hide behind offshore companies and it is easier to ‘follow the money’.
  • Mr Cameron will say corruption ‘is the cancer at the heart of so many of the world’s problems’. He adds: ‘Yet when it comes to tackling corruption, the international community has looked the other way for too long.
  • ‘We simply cannot afford to side-step this issue or make excuses for corruption any more. We need to step up and tackle it. One of the most understated, but most important elements of a rules-based world order is a commitment to transparency and to tackling corruption.’
  • … Mr Cameron, who is on a four-day tour of South-East Asia, will argue that all countries have more to do, and he will highlight concerns that some properties in the UK, particularly in London, ‘are being bought by people overseas through anonymous shell companies, some with plundered or laundered cash’.
  • … Nick Maxwell of Transparency International UK said: ‘With this announcement, the UK Government is taking significant steps towards tackling the scourge of corrupt money that is stolen from around the world and laundered into the UK through secret companies.’

Read more: http://www.dailymail.co.uk/news/article-3176694/PM-s-crackdown-foreign-criminals-buying-UK-homes-dirty-money-Cameron-announces-clampdown-overseas-buyers-anonymous-companies.html

@MailOnline on Twitter | DailyMail on Facebook

London Southbank

One thought on “Prime Minister to crack down on foreign criminals buying homes with ‘dirty money’ (That’s UK’s David Cameron, not Canada’s Stephen Harper)

  1. The real problem here is Christy Clark and Suzanna Anton who fail to recognize the problem because their pandering to China-Chinese in Vancouver and BC and linked to the Chinese Communist Party , also this stupid Chinese bank they created in Vancouver is how the tainted Chinese money is getting into BC, De Jong is to blame for this, Liberal Party member Director at Large this is what happens when you arrogant, ignorant, inflated egos working in government including government employees

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