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‘Londongrad’ losing its allure for corrupt elites, police say

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Reuters UK

By Michael Holden LONDON (Reuters) – London is losing its allure as a destination for corrupt Russian elites and other kleptocrats with the aid of new powers and a crackdown on “enablers” who help them channel their illicit money into Britain, British police said on Thursday. The British capital has long been the Western city of choice for Russian and other oligarchs, with authorities estimating 100 billion pounds ($119 billion) of dirty money is laundered through its financial institutions each year. In March, Britain passed an Economic Crime Act to target illicit money, and then subsequently…

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