Video: How are criminals able to launder money through London properties?

Video: Jim Armitage explains how criminals use London properties to launder money

Vast numbers of properties bought through offshore havens have anonymous buyers, though to be hiding stolen money. (Susannah Ireland)

Yesterday, The Independent reported that billions of pounds of corruptly gained money had been used by criminals and foreign officials to buy upmarket properties in London through anonymous offshore front companies.

Some 36,342 properties had been bought through these offshore havens, most of which for legitimate privacy purposes, but vast numbers are believed to have been anonymously bought to hide stolen money.

The latest revelations have arguably made London the world capital of money laundering.

But how are criminal’s able to launder this money through property in the capital?