Skip to main content
BlogLegal AdviceNews

Cameron advises the UK is no place for “dirty money”

Cameron advises the UK is no place for “dirty money”

David Cameron – currently on a four – day tour of South East Asia has vowed to expose the use of “anonymous shell companies” to buy luxury UK properties. Shell companies are non-trading companies that serve a particular purpose for their owners.
As part of a global crack down on money laundering the PM advised that corruption was “a cancer which is at the heart of so many of the world’s problems” and must be tackled.

A 2014 report by anti-poverty organisation One said an estimated $1tn (£600bn) a year was being taken out of poor countries because of corruption, warning of the use of phantom firms and money laundering.

Last week the National Crime Agency said foreign criminals were pushing up house prices in the UK by laundering billions of pounds through the purchase of expensive properties. As with any crack down by the government. In his speech, Cameron said properties in the UK, particularly in London, “are being bought by people overseas through anonymous shell companies, some with plundered or laundered cash”.

For those caught up in this kind of crime regardless of how minor their role may appear they face prosecution under the 2002 proceeds of crime act. Manchester and London based criminal law solicitors Ralli not only provide expert legal advice and guidance, they have also developed a fixed fee service for those facing prosecution.