Tag: Proceeds of Crime

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 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 […]