UK property no safe haven for dirty money
Foreigners must be stopped from buying UK homes with "plundered or laundered cash" and a "global effort" launched to defeat corruption, David Cameron will say in a speech later
A 2014 report by anti-poverty organisation One said an estimated $1tn (£600bn) a year was being taken out of poor countries because of corruption, warning of the use of phantom firms and money laundering.
And last week the National Crime Agency said foreign criminals were pushing up house prices in the UK by laundering billions of pounds through the purchase of expensive properties.
Drity money
In his speech, Mr Cameron will say properties in the UK, particularly in London, "are being bought by people overseas through anonymous shell companies, some with plundered or laundered cash".
Shell companies are non-trading companies that serve a particular purpose for their owners.
More than 100,000 UK property titles are registered to overseas companies, with more than 36,000 properties in London owned by offshore firms.
About £122bn of property in England and Wales is owned by offshore companies.
The government is to publish Land Registry data later this year, setting out which foreign companies own land and property in England and Wales.
It will also consider forcing a foreign company bidding for a government contract to "publicly state who really owns it".
"There is no place for dirty money in Britain. Indeed, there should no place for dirty money anywhere," Mr Cameron will add.