The National Crime Agency (NCA) has secured two unexplained wealth orders (UWOs) relating to two properties, one in London and one in the South East of England, worth a total of £22m. The owner of the properties is believed to be a ‘politically exposed person’.
The National Crime Agency (NCA) has secured two unexplained wealth orders (UWOs) relating to two properties, one in London and one in the South East of England, worth a total of £22m. The owner of the properties is believed to be a ‘politically exposed person’. These are the first such orders granted and under provisions introduced on 31 January by the Criminal Finances Act 2017.
The NCA’s director of economic crime, Donald Toon, said that by enabling the UK to more effectively target the problem of money laundering through prime real estate, ‘unexplained wealth orders have the potential to significantly reduce the appeal of the UK as a destination for illicit income’.
The National Crime Agency (NCA) has secured two unexplained wealth orders (UWOs) relating to two properties, one in London and one in the South East of England, worth a total of £22m. The owner of the properties is believed to be a ‘politically exposed person’.
The National Crime Agency (NCA) has secured two unexplained wealth orders (UWOs) relating to two properties, one in London and one in the South East of England, worth a total of £22m. The owner of the properties is believed to be a ‘politically exposed person’. These are the first such orders granted and under provisions introduced on 31 January by the Criminal Finances Act 2017.
The NCA’s director of economic crime, Donald Toon, said that by enabling the UK to more effectively target the problem of money laundering through prime real estate, ‘unexplained wealth orders have the potential to significantly reduce the appeal of the UK as a destination for illicit income’.
