Hundreds of millions of pounds worth of UK properties held in secretive offshore companies have been used to launder the proceeds of international corruption, Scotland Yard investigators suspect.

The Metropolitan police have revealed that more than £180m of British property has been put under criminal investigation in the last decade as the likely proceeds of corruption. Detectives have warned it is the tip of the iceberg.

In almost every case, suspected international money launderers hold the properties in secretive offshore companies.

One investigator said the arrangements were “like putting money in a Swiss bank – they have become ubiquitous for the corrupt”.

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