22 July 2019
NCA obtains first UWO against a suspected organised criminal – a change in approach
The National Crime Agency (NCA) continues to deploy Unexplained Wealth Orders (UWOs) as a means to tackle illicit finance – now, as anticipated, it has turned its focus on serious organised crime.
7 June 2019
The rights of third parties in confiscation matters: an inhospitable landscape
In R v Morrison [2019] EWCA Crim 351, the Court of Appeal held that there was no general power in the Proceeds of Crime Act 2002 (POCA) to avoid hardship or injustice to a third party when determining whether or not to include a tainted gift of approximately £40,000 in a confiscation order.
4 June 2019
Unexplained Wealth Orders for prime property
The National Crime Agency announced last week that it has secured three Unexplained Wealth Orders as part of its investigation into London property linked to “a politically exposed person believed to be involved in serious crime.” We are told that the UWOs are for three residential properties in prime locations – originally bought for more than £80m and held by offshore companies.
21 May 2019
Wine as an investment – the wine merchant’s risk
The London Wine Fair is taking place this week. Exhibitors have come from around the world, over 14,000 wine buyers will attend and Olympia will be full for three days. Little wonder: wine is a massively popular commodity in this country and the market is incredibly diverse. At the top end of that market sits investment-grade wine. And with wine – as with any investment – there is risk. For most, the risk is simply the investor’s ordinary commercial risk. For a few, however, the risk sits with the wine merchant and is that of being involved in a money laundering scheme.
20 May 2019
Crunching the numbers: is the National Crime Agency right to seek additional funding?
As the National Crime Agency (“NCA”) releases its 2019 National Strategy Assessment, NCA Director General Lynne Owens is calling for an extra £2.7 billion in law enforcement funding to combat serious and organised crime over the next three years. With 4,542 active UK-based organised crime groups and 181,000 UK people involved in serious and organised crime, law enforcement agencies are starting to creak under the strain. In this blog, we review the National Strategy Assessment’s analysis of current trends in financial offending and we look at the authorities’ response within their current funding arrangements. Against that background, we consider the argument for greater investment in law enforcement capacity.