Property is one of the ‘weak links’ in Britain’s defenses against money laundering, and estate agents need to do more to close it, the Treasury Committee said last week.
A report released on Friday recommended the government take tougher action against ill-gotten funds flowing into companies and real estate.
Estate agents, the Economic Crime Report said, need to be better regulated by HM Revenue and Customs (HMRC). “There is a risk that some estate agents may be unsupervised,” the report noted.
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