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NEWS: UK launches new property register to tackle dirty money as Business Minister says country is ‘lifting the curtain’ on criminals attempting to launder illicit funds

By Elizabeth Hearst for AMLi

The UK has launched a new property register, aimed at cracking down on oligarchs using the UK’s booming real estate market to launder dirty money. 

Under the new Economic Crime (Transparency and Enforcement) Act, the Register of Overseas Entities will require foreign companies with UK owned property to disclose the ultimate beneficial owners to Companies House, before any application to land registries can be made.

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