Over two-thirds of properties in the UK held by overseas shell companies still do not publish information about the identity of their owners. That’s according to new research from the London School of Economics (LSE), the University of Warwick (UoW), and the Centre for Public Data (CPD). The damning research came just one day before parliament refused to close gaps in the law allowing these anonymous property owners to flourish.
The report found that law enforcement agencies didn’t even know the true identities of 35% of the owners. Anna Powell-Smith, director of the Centre for Public Data, stated that: