Unexplained Wealth Orders

20 February 2020

NCA relentless in demand for answers to unexplained wealth

The NCA announced on 13 February that it had obtained a freezing order preventing the sale of 17 addresses as part of an on-going investigation into a Leeds businessman with suspected links to serious organised criminals.  It confirmed that the Property Freezing Order (PFO) covers properties in Leeds, Cheshire and London worth approximately £10.5 million, which are under the control of 39-year-old Mansoor Mahmood Hussain. 

Ed Smyth

15 January 2020

Subject of Unexplained Wealth Order now hit with Account Freezing Order

The NCA announced on Monday 13 January that it has obtained an Account Freezing Order (AFO) over funds in excess of £1m related to businessman Mansoor Mahmood Hussain alleged to be connected to organised crime and in respect of whom the NCA had already secured an Unexplained Wealth Order (UWO) in July 2019. It is clear that law enforcement agencies’ appetite to deploy these draconian orders is growing.

Ed Smyth

5 August 2019

Proceeds of Crime: new Asset Recovery Action Plan seeks to leave “no safe space” for dirty money

On 12 July, the Home Office published its new Asset Recovery Action Plan (“the Plan”) to complement the National Economic Crime Plan 2019 to 2022. In it, the government expresses its clear intention to attack criminal finances still more robustly and to hit hard at the “common thread that runs through almost all offending” – money. The Plan continues: “The vast majority of criminality is driven by money, so it is vital that we are relentless in our pursuit of the illicit finances that criminals acquire to fund their criminal lifestyle and commit further crime…”

Ed Smyth

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.

Ed Smyth

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.

Ed Smyth

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