UNEXPLAINED WEALTH ORDERS, EXPLAINED: THE UK REGIME AND CONSIDERATIONS FOR THE US

On 8 August, the Program on Corporate Compliance and Enforcement at the New York University School of Law published a post (Part 2 of a 3-part series – Part 1 had discussed the history of UWO) which explained that the self-incrimination concern presented by UWO is just one of many reasons it considers that this investigative tool is unlikely to be adopted in the US.  On the other hand, it argues, the US example of targeted increases in transparency around real estate transactions might give the UK authorities food for thought. It cites investigative tools such as Geographic Targeting Orders (GTO), used to address money laundering through high-end real estate — which it says is one of the very issues that drove the UK to adopt UWO.

https://wp.nyu.edu/compliance_enforcement/2020/08/06/unexplained-wealth-orders-explained-the-uk-regime-and-considerations-for-the-united-states-part-ii-of-ii/

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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