News

Wealthy foreign criminals may be actively targeting the U.K.'s hedge fund industry in an attempt to launder illicit proceeds, according to sources in London and Moscow. The allegations follow increased scrutiny of the U.K. property market, which is expected to see tighter controls on foreign investments under a governmental plan outlined earlier this month by the Department for Business Innovation & Skills in response to allegations that criminals from Russia and other countries are funneling money into British real estate. The agency said in a consultation paper that it may soon require foreign companies to obtain a unique identifying number...