Property markets in the UK and the US have become hotspots for money laundering, prompting authorities in both countries to introduce new regulations. But some observers believe that not enough is being done — and that coronavirus may have made the problem worse.
Jerry Walters is managing director of FCS Compliance, which provides training and due diligence services for London’s high-end property market. “When we came out of lockdown [in May] and the housing market came back to life, we were incredibly busy,” says Mr Walters, a former police detective. “And we saw some properties coming to market that gave us concerns.”