Summary
London has long been a hub for the influx of dirty money from across the globe, especially from Russian oligarchs since the '90s. The city's legal and financial systems have facilitated money laundering through financial secrecy and shell companies. Efforts are underway to combat this issue by demanding transparency in property ownership to expose the true owners of UK assets.
London as Dirty Money Capital
London has been welcoming dirty money from around the world for decades, with key aspects of the legal and financial system facilitating money laundering.
Origins of Russian Money in London
The influx of Russian money in London began in the '90s with the collapse of the Soviet Empire, leading to the creation of an oligarchy that surged wealth into London.
Use of Shell Companies
London's financial secrecy and shell companies have enabled the global integration of corrupt wealth, attracting corrupt individuals to invest in UK assets.
Unveiling the Ownership of Properties
Efforts are being made to reveal the true owners of UK properties to combat money laundering, with legislation requiring transparency in property ownership.
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