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David Cameron: Uk Property No Safe Haven For 'dirty Money'

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David Cameron: UK property no safe haven for 'dirty money' - http://www.bbc.co.uk/news/uk-politics-33684098

At least gets the message out to the masses that the London market is skewed... Not sure they'll listen though.

Yep. I flagged the front runner for this.

Wonder what's driving this? London (mainly) has drawn a lot of money over the years - and this has been going on for several decades - by being a convenient laundry for dirty money.

In no particular order, it could be:

- Heat from America. America is very keen on cracking down graft esp. when they do not earn money from the graft.

- Heat from China. 'Hello, we are looking for Shenzen's mayor. He's disappeared with 100m. Please return money or else'

Or course, we could be doing it as the 'right thing to do' Got you on that!

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money moves through banks.

We have the most banks per square mile in the square mile.

London is dirty.

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Yeah, Johnny Foreigner gangster and chums can take their dirty money elsewhere. Our economy is doing just fine, thankyou very much, with its zero interest rates for over half a decade.

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Clamp down as in I'll make a lot of noise, produce a few meaningless policies, arrest a few patsy's and just carry on as normal?

That's how I am reading it. I fear I am becoming cynical, especially when the combination is Tories, criminals, property and the economy.

Edited by dougless

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Plenty of Brits have made money like this.

1. Lie about income to obtain a mortgage (Self Cert Mortgage) = obtaining property by deception

2. Wait till property price rises, then sell.

3. Pay back original loan, and pocket the now clean profits.

4. Rince and repeat.

The Government could compare all Self Cert Mortgage details against Tax Returns, but I dare say they would not like what they find.

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I think he's talking about corrupt government officials and military/police heads of state and their the gains of embezzlement, tax evasion and confiscation from the poor. We're not talking a few 100K, we're talking millions and millions.

I can think up a few examples (remember this is foreign money from other countries):

Bank robbery goes wrong, and the criminals are arrested - corrupt police head returns 1/2 the money to the bank. The other 1/2 is not found.

A large contractor is awarded a huge contract to upgrade the roads. Only 1/4 of the money is used to upgrade the roads.

A minister is in charge of the annual budget for the military, and a % is diverted to a private company for unlisted services.

Edited by 200p

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Dear Labour voters of London - we hear your concerns about property prices, but really, there's not much we can do about because it's those pesky foreigners again, so please consider voting a Tory mayor...

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Mr Cameron will vow to expose the use of "anonymous shell companies" to buy luxury UK properties - often in London.

I'd imagine that the majority of laundering does not use 'anonymous shell companies' at all.

Framing the issue like that is a good way of doing nothing about it.

Speaking in Singapore, he will say the UK must not become "a safe haven for corrupt money from around the world".

Too late.

Edited by BuyToLeech

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I noticed that the gangster who was assassinated in Salford yesterday had taken to "investing in property" in recent years.

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Yep. I flagged the front runner for this.

Wonder what's driving this? London (mainly) has drawn a lot of money over the years - and this has been going on for several decades - by being a convenient laundry for dirty money.

In no particular order, it could be:

- Heat from America. America is very keen on cracking down graft esp. when they do not earn money from the graft.

- Heat from China. 'Hello, we are looking for Shenzen's mayor. He's disappeared with 100m. Please return money or else'

Or course, we could be doing it as the 'right thing to do' Got you on that!

Where money has been laundered in this way, they also should be pursuing the original vendors for the money. As in effect they have been in receipt of stolen funds and it is possible to trace to the flow.

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Talking about it and broadcasting it doesn't mean anything meaningful is done about it.......action speaks louder than words.......no we don't want a 10% pay increase, we don't deserve a 10% pay increase in these times of low growth and austerity. ;)

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Yet again Dave just surfs the wave, and he will do nothing about it.

All this "dirty money" is actually used to obtain mortgages, hence we are all on hook for bank losses if anyone investigates these. Therefore, no action-just hot air.

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