Skip to main content

Proceeds of crime inquiry

Inquiry

The Home Affairs Committee says poor supervision and enforcement in the London property investment market are making a safe haven for laundering the proceeds of crime. It calls for much stronger supervision of agents, buyers and sellers. It also says that the key tool for detecting suspicious financial activity across the financial services sector and connected industries, such as real estate, is overloaded to the point of being "completely ineffective".

Government Response


The Home Affairs Committee looks into how effectively the measures introduced in the Proceeds of Crime Act 2002, to deprive criminals of any benefit from their crimes, are working. In particular, the inquiry assesses the operation of confiscation orders, which are the main mechanism through which this policy is implemented.

Reports, special reports and government responses

View all reports and responses
5th Report - Proceeds of crime
Inquiry Proceeds of crime inquiry
HC 25
Report
Response to this report
5th Special Report - Proceeds of crime: Government response to the Committee's Fifth Report of Session 2016–17
HC 805
Special Report
5th Special Report - Proceeds of crime: Government response to the Committee's Fifth Report of Session 2016–17
Inquiry Proceeds of crime inquiry
HC 805
Special Report

Oral evidence transcripts

View all oral evidence transcripts
24 May 2016
Inquiry Proceeds of crime inquiry
Witnesses Detective Chief Superintendent Dave Clark, Head of the Economic Crime Directorate, City of London Police, Nick Price, Head, National Proceeds of Crime, Crown Prosecution Service and Donald Toon, Director of Economic Crime, National Crime Agency.
Oral Evidence
3 May 2016
Inquiry Proceeds of crime inquiry
Witnesses Robert Barrington, Executive Director, Transparency International UK; Mark Thompson, Head of Proceeds of Crime Unit, Serious Fraud Office; Bill Browder, Founder and Chief Executive, Hermitage Capital Management; Henry Pryor, Property Buying Agent and Market Commentator; Laurence Sacker, Partner, Corporate Finance and Money Laundering Reporting Officer, UHY Hacker Young LLP
Oral Evidence
8 March 2016
Inquiry Proceeds of crime inquiry
Witnesses Jonathan Fisher QC, Visiting Professor in Practice, London School of Economics and Barrister, Devereux Chambers, Dr Colin King, Senior Law Lecturer, University of Sussex, and Helena Wood, Associate Fellow, Royal United Services Institute; Richard Fisher QC, Doughty Street Chambers, Tim Owen QC, Matrix Chambers, and Kennedy Talbot QC, 33 Chancery Lane Chambers; Martin Bentham, Evening Standard.
Oral Evidence
City of London Police supplementary (POC0029)
Serious Fraud Office supplementary (POC0028)
Bill Browder, Founder and Chief Executive, Hermitage Capital Management supplementary (POC0027)

Other publications

No other publications published.

Contact us