Proceeds of crime inquiry

The Home Affairs Committee says poor supervision and enforcement in the London property investment market are making a safe haven for laundering the proceeds of crime. It calls for much stronger supervision of agents, buyers and sellers. It also says that the key tool for detecting suspicious financial activity across the financial services sector and … Show more

The Home Affairs Committee says poor supervision and enforcement in the London property investment market are making a safe haven for laundering the proceeds of crime. It calls for much stronger supervision of agents, buyers and sellers. It also says that the key tool for detecting suspicious financial activity across the financial services sector and connected industries, such as real estate, is overloaded to the point of being "completely ineffective". Government Response Government Response to the report on proceeds of crime Government Response to the report on proceeds of crime (PDF 210 KB) The Home Affairs Committee looks into how effectively the measures introduced in the Proceeds of Crime Act 2002, to deprive criminals of any benefit from their crimes, are working. In particular, the inquiry assesses the operation of confiscation orders, which are the main mechanism through which this policy is implemented. Show less