Money Laundering in London – who’s in denial about it?

money laundering

After the PM came out this week with his concerns of the extent of money laundering in London, what do you think was the Mayor’s position when l asked him about the impact it was having on the housing market earlier in the year?

Yep you guessed right, complete denial about it. This when l quoted research undertaken by Transparency International, Corruption on Your Doorstep in a question to his office. The response l got said ” ….it did not produce any evidence to suggest the nature and scale of any such relationship”

Since then we have had the National Crime Agency suggest that foreign criminals push up London house prices. Mr Toon director of the agency’s economic crime command said  “I believe the London property market has been skewed by laundered money. Prices are being artificially driven up by overseas criminals who want to sequester their assets here in the UK.”

Do you think he’ll take it seriously now that the PM and National Crime Agency consider it a problem? Well l will have to ask and find out at the next Mayor’s Question Time. So much for even acknowledging it as a issue, in the first place.  

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