Criminal Finance Bill 2016/2017| Kangs Financial Fraud Solicitors
Timothy Thompson of Kangs Solicitors comments further on new offences proposed by this Bill.
Unexplained Wealth Orders (UWOS) | Kangs POCA Solicitors
UWOs are to be introduced to enable law enforcement agencies to seize and investigate property of an individual, without having to first prove criminal conduct, where it is suspected that such property represents the proceeds of crime.
In effect, the presumption will be that if possession of the property in question appears to be disproportionate to the known income of the person in possession, it has been funded by the proceeds of crime.
Upon being served with a UWO, the onus will be upon the individual to explain the nature and extent of their interest, how they came to obtain it and the provenance of the funds involved.
Potential Consequences of a UWO | Kangs Confiscation Solicitors
On the face of it, the issue of a UWO will result in:
- The individual involved proves, on a balance of probabilities, that the asset has been funded for legitimately and the property is released; or
- The explanation provided by the individual is unsatisfactory, the property is deemed to be recoverable property and civil recovery proceedings will follow; or
- The Individual fails to attend to the requirements of the UWO, he is found to be held in contempt of Court and the property will be presumed to have been acquired as the result of criminal activity and therefore recoverable.
Our Expertise | Kangs POCA Proceedings Specialists
UWOs are yet to be approved by Parliament. However, we are currently and regularly instructed in respect of all existing civil recovery matters such as Cash Seizure, Asset Forfeiture, Restraint, Property Freezing Orders and Civil Recovery Proceedings.
Should you or someone you know be affected by any of the above please do not hesitate to contact our team through any one of the following:
Contact
Hamraj Kang
hkang@kangssolicitors.co.uk
07976 258171 | 020 7936 6396 | 0121 449 9888
John Veale
jveale@kangssolicitors.co.uk
0121 449 9888 | 020 7936 6396
Tim Thompson
tthompson@kangssolicitors.co.uk
020 7936 6396 | 0121 449 9888
