THE ROLE OF ASSET CONFISCATION UNDER THE NEW UK SERIOUS AND ORGANISED CRIME STRATEGY

RUSI on 16th November published an article which says that the British government claims to be focussing on its ability to seize the proceeds of organised crime, but the response remains piecemeal, underfunded and poorly co-ordinated.  Whilst the article highlights some positive points, it also says that the overall £7.5 million funding pot to boost the asset recovery response is paltry compared to the estimated tens of billions of criminal assets the UK’s long-suffering financial investigators are charged with capturing.  It also cautions against over-reliance on unexplained wealth orders – saying that, due to their already litigious nature, it is unlikely that they will be used in all but the most serious (or perhaps, straightforward) cases.

https://rusi.org/commentary/take-money-and-run-role-asset-confiscation-under-new-serious-and-organised-crime-strategy

The Strategy itself, as published on 1st November, is available at –

https://www.gov.uk/government/publications/serious-and-organised-crime-strategy-2018

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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