Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent steps the Government has taken to reduce the risk of money laundering through UK property ownership.

The government recognises the money laundering risk associated with UK property, and since 2017 has required Estate Agents and legal professionals involved in the buying and selling of property to register for supervision under money laundering regulations.

Last year saw the UK take further significant action by introducing the Register of Overseas Entities, which requires overseas companies who own UK property to reveal their real identities.

Through the second Economic Crime Plan, the government has committed to taking further coordinated steps using our enhanced regulatory, supervisory and enforcement toolkit, to identify criminals more quickly and effectively and do more to hold them to account.