Britain hints at tougher blow against Russia: Stripping tycoons' assets

For Russians, part of Britain’s draw was its offer of legal shelter; it refuses extradition requests from Russia. British institutions, meanwhile, have been lenient with wealthy foreign buyers, skimming through due diligence procedures intended to determine the source of a buyer’s funds, said Ian Bond, director of foreign policy at the Centre for European Reform. “This has been a very weak part of our money-laundering system,” Mr. Bond said. “Not enough questions are being asked about overseas shell properties. Estate agents are not asking the right questions — or any questions — about the beneficial owners.”