Principal Investigator: Dr Colin King, University of Essex
The UK has only recently recognised its own role in facilitating global corruption. That is significant as the UK is vulnerable to money laundering as perpetrators often spend the proceeds of corruption on London property. This project will:
(i) examine illicit financial flows from developing countries and map how that ‘dirty capital’ is laundered in the UK real estate sector; and
(ii) assess the adequacy of the anti-money laundering framework, through desk-based risk assessments as well as qualitative interviews with relevant facilitators (estate agents) and regulators (professional associations and law enforcement).
This multi-disciplinary (politics and law) project applies new thinking and research methods to a significant international challenge – the proceeds of grand corruption, how those proceeds are laundered, and what action might be taken. The project will deliver significant policy relevant findings, drive the research agenda on how ‘dirty capital’ infiltrates the property market, and improve public understanding of this international problem.