How $220 Billion Of Dirty Money Is Laundered Through Europe


July 24 2019

Stories of corruption and crony capitalism capture the imagination. So when millionaires are accused of buying golden visas to launder their dirty money through the U.K., people pay attention.

That is the accusation that has been leveled against the British government this week, as Labour Party MP Margaret Hodge called for the Home Office to suspend its Tier 1 Investor visa, the U.K.’s “golden visa.”

A Tier 1 Investor visa allows somebody to become resident in the U.K. in return for £2 million ($2.4 million). However, an investigation by Channel 4 and The Sunday Times found several golden visa advisors boasting how they could get fictitious characters linked to dubious politicians and businesses past anti-money laundering rules.