UNEXPLAINED STRATEGY: PUTTING UNEXPLAINED WEALTH ORDERS TO WORK

An article from RUSI on 11th January argues that the UK government should use unexplained wealth orders to reduce harm, not reap headlines.  It says that Transparency International UK claims to have identified £4.4 billion-worth of UK properties bought with suspicious wealth and has even offered a handy list of targets for the police to consider.  The author argues that prioritising the deployment of scarce resources and funding against the unexplained wealth of organised crime groups (that cause real problems in communities such as through the supply of illegal drugs) not only makes political sense; it also makes strategic, tactical and economic sense.  He says that voters on the whole are not directly affected by oligarchs and kleptocrats, whilst the threat posed and harm inflicted by organised crime is real.  Taking property and other assets off organised crime groups has a real impact.  However, he says one should not turn a blind eye to those corrupt PEP that take advantage of the financial and investment services that London has to offer.  But, he says, the strategy promoted by the government should empower and support police forces across the country to do just that, in particular by building expertise in civil confiscation in wider UK policing beyond the NCA where the focus is confined to the high-end, multi-million targets.

https://rusi.org/commentary/unexplained-strategy-putting-unexplained-wealth-orders-work

 

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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