questionText: To ask the Secretary of State for Business and Trade, what assessment he has made of the potential impact of the Economic Crime and Transparency Act 2023 on the offshore ownership of property in the UK to conceal money laundering and other illegal activities.
answerText: The Economic Crime Acts 2022 and 2023 established and strengthened the UK’s Register of Overseas Entities, which requires overseas entities owning UK land to disclose their beneficial owners. Since launching in 2022, over 33,000 entities have registered. ...
heading: Property: Money Laundering