Tag: Civil recovery

The new Criminal Finances Bill setting out new anti-money laundering powers has had its first reading

On 13 October 2016 the Criminal Finances Bill (the “Bill”) had its first reading in the House of Commons. In addition to introducing Unexplained Wealth Orders (described in our blog below), the Bill sets out a number of new anti-money laundering powers. The Bill will: enable the seizure and forfeiture […]

New crime bill to introduce Unexplained Wealth Orders

The Government is due to publish a new proceeds of crime bill tomorrow, which will introduce Unexplained Wealth Orders (UWOs), as reported in The Times (paywall). UWOs would allow the police to apply for an order to require individuals to explain their source of wealth where it exceeds their lawful income. […]

What states should know about proprietary claims to corrupt assets

This tip-sheet gives a summary of proprietary claims. This type of claim arises where a state’s property has been stolen, or wrongfully transferred away, such as property sold below market value as a result of bribery. It is a claim for a specific asset or sum of money, which can […]

What states should know about knowing receipt

We have just published our second tip-sheet on the substantive claims available to victims of bribery and corruption, which sets out the key details for a claim in knowing receipt. This claim allows a victim to sue anyone who received the benefit of assets taken in breach of trust, in circumstances where it […]

Using insolvency powers to make claims for fraud: important Supreme Court decision

Companies are habitually used as part of a corruption scheme. Such companies often have only a single director, or a small number of directors, and are beneficially owned by the wrong-doers. Insolvency powers can be effective tools to obtain compensation for victims of fraud or corruption, in the right circumstances. […]

What do I need to know about POCA?

If you’re a company officer or director and need a quick reminder on your responsibilities under the UK’s Proceeds of Crime Act and the anti-money laundering regime, take a look at our one page tipsheet. We cover the following areas: an overview of the Act the definition of “proceeds of crime” confisction and forfeiture […]

Recovering the proceeds of corruption: an overview

Victim states seeking to recover the proceeds of corruption, or compensation for corrupt acts, may have a choice of mechanisms to do so:  criminal, civil and non-conviction forfeiture.   Each mechanism has advantages and disadvantages, and the “right” route for a particular case depends on the circumstances.   Flexibility is key, and any substantial […]