Ministers mull forcing agents to hand over dirty money client details

first_imgHome » Crime » Ministers mull forcing agents to hand over dirty money client details previous nextRegulation & LawMinisters mull forcing agents to hand over dirty money client detailsBrandon Lewis says he may use US-style ‘targeted orders’ to force agents to provide key details about vendors and buyers suspected of money laundering.Nigel Lewis8th October 20190928 Views  The government has revealed that it’s planning to crack down even harder on money laundering and is mulling plans to force estate agents to hand over information about suspected ‘dirty money’ vendors and buyers.This would include giving their personal and bank account details to the National Crime Agency (NCA), ministers have revealed.It would be achieved by adopting the ‘geographical targeting orders’ already being used in the US to tackle organised crime.These would be used to focus on both the high-end properties bought and sold by international money laundering vendors and buyers in London, as well as properties elsewhere linked to UK criminals.Money launderingThe proposals are a response to worries both within government and corruption campaigners such as Transparency International that the UK remains a favoured place for criminals to clean their ill-gotten gains.“Economic crime threatens our security and prosperity,” former housing and now security minister Brandon Lewis (left), told The Times.“While operational agencies already have a range of tools for investigating and tackling these threats, we are considering further powers, such as tactical targeting orders.”The NCA has already been busy this year using its existing powers including issuing Unexplained Wealth Orders to several property owners in London.In May last year Transparency International claimed to have identified properties worth £4.4 billion which had been bought with suspicious wealth.National Crime Agency anti money laundering Brandon Lewis October 8, 2019Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more