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United Kingdom Real Estate Transactions Anti-Money Laundering

K&L Gates LLP

The Latest OFSI Property and Related Services Threat Assessment

K&L Gates LLP on

The United Kingdom’s Office of Financial Sanctions Implementation (OFSI) has published a report detailing suspected breaches of UK financial sanctions involving UK property and related services firms since February 2022 and...more

Cohen & Gresser LLP

The Economic Crime Act: What will Change for Managers of Offshore Structures

Cohen & Gresser LLP on

In the early hours of 15 March 2022, the Economic Crime (Transparency and Enforcement) Act (the “Act”) came into force. The rapid passage of the Act through the UK Parliament, after years of delays, came in response to...more

K&L Gates LLP

Foreign Ownership of UK Real Estate Under Scrutiny

K&L Gates LLP on

The UK Government has recently introduced the Economic Crime (Transparency and Enforcement) Bill 2022 (the Bill). Amongst other objectives, the Bill proposes the setting up of a register of overseas entities and their...more

Jones Day

UK Draft Bill Addresses Criminal Money Laundering Through Overseas Entities

Jones Day on

The Situation: The purchase of property in the United Kingdom has, for various reasons, become an attractive mechanism by which to launder criminal proceeds through overseas entities. The Solution: A draft bill is...more

Ballard Spahr LLP

UK’s Anti-Money Laundering Laws May Extend to Private Landlords

Ballard Spahr LLP on

On April 15, the UK Treasury released proposed steps, entitled a “consultation,” to adopt the EU’s Fifth Money Laundering Directive (“5AMLD”) into national law, while also seeking comments and evidence from stakeholders to...more

Hogan Lovells

Government select committee considers beneficial ownership register

Hogan Lovells on

We blogged on 26 July 2018 about the government’s plans to publish a register of beneficial ownership of UK registered land. ...more

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