By PAUL O’DONOGHUE, Senior Correspondent
PROPERTY prices are surging in many developed markets, with residents on local salary struggling to keep up.
In markets such as London and Toronto, this has been worsened by criminals buying up billions in real estate, further squeezing out buyers.
On the latest episode of ‘Collared’, Tommas Kaplan, CEO and Managing Partner at Turn Advisory, examines why property is such an attractive asset for dirty money.
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A former police officer in Germany, Kaplan has also worked as Chief Compliance Officer at Von Poll Real Estate, one of the largest real estate brokerage firms in Europe.
He explores some of the methods criminals use to get past checks from agencies when buying property.
Then, Paul O’Donoghue, AML Intelligence’s Senior Correspondent, examines how this phenomenon has distorted prices in some of the world’s wealthiest housing markets.
These include London and Toronto, where criminals ran a sophisticated ring moving suspicious funds from China, through casinos, before eventually ending up in Canadian property.
Episode 9 comes after last week’s ‘Collared’ looked at whether ‘Big Tech’ should cover the UK’s £1.3bn fraud losses.
It also featured an interview with Jim Lee, the Global Head of Capacity Building at the blockchain analytics and investigation firm Chainalysis.
He outlined how the playbook has changed for fraudsters, who are rapidly adopting new technology such as AI. He also examined what the future of scamming might look like.
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