Uncovering London’s hidden property wealth

New laws are combating money laundering in the capital’s luxury homes market.

Beneath the mounted head of a stag in a room at a private members’ club, former police detective Jerry Walters is teaching a class of estate agents how to spot money launderers.

The group of about 20 — a mix of old-school English types, slick Instagram-friendly operators and buying agents from Russia and the Middle East — has come to the grand Caledonian Club in Belgravia, central London, not for relaxation but out of necessity.

Since January, the UK’s anti-money laundering regulations have become more complicated, and many agents must brush up on the new laws or they could face hefty fines — even imprisonment.

Read the full article in Financial Times (Paywall)