Money Laundering through real estate in London is in focus. NPR is reporting that about $200 Billion in real estate is owned by offshore corporations. Offshore corporations could be owned by a complex web of owners, ultimately owned by criminals. With foreign money feeding the real estate markets in major global cities like London and New York, law enforcement is bounding to investigate the compliance procedures taken to ensure the prevention of money laundering through real estate in these markets.
Will Standard Charters’ compliance leadership changes make a difference?
About the Author: M. C. Maltempo is a compliance professional with more than a decade of experience helping banks, law firms and clients manage investigations and regulatory responses.