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Almost 20 trusts and other overseas entities that have declared their ownership of U.K. real estate ahead of a government-imposed deadline have acknowledged their links to blacklisted parties, analysis shared with ACAMS moneylaundering.com shows.
U.K. officials want to create a new agency to supervise law and accounting firms for anti-money laundering purposes.
Britain's settlement with a couple from Azerbaijan's ruling elite who used a now-notorious money-laundering network to move almost £14 million into the U.K. has brought the efficacy and continued use of stronger asset-seizure powers introduced four years ago into question.
