The Problem.

Research from Transparency International has shown that there is at least £1.5billion worth of property owned by Russian individuals accused of corruption or with links to the Kremlin in the UK. Many stand empty, hurting local businesses and communities.

There are 2,189 companies are registered in the UK and its offshore tax havens used in 48 Russian money laundering and corruption cases involving over £82bn in funds.

Over 6000 properties are registered to foreign owners in Tower Hamlets, many to anonymous shell companies registered in tax havens

At the same time we have a housing crisis in London.

The Solution.

We want to know who really owns and controls property in the City and Tower Hamlets, and then for investigators to go after the ill gotten gains and seize properties brought with corrupt funds. Those funds should be made available to help tackle our housing crisis.  In the next few months we have a chance to really secure property transparency. We want to work with grassroots networks and communities to demand action through the second economic crime bill which will tackle corruption and money laundering in Britain. 

For too long, London has been the epicentre of Britain’s dirty money problem. We need to curb corrupt funds in London property, go after empty homes, and invest in desperately needed social housing.

We are calling on our Member of Parliament to ensure:

-Transparency over who owns and controls property 
-Investigators with teeth to go after corrupt funds
-Effective council powers on empty property
-Investment in supply of social housing