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NCA Gets 4th Unexplained Wealth Order In Steady Ramp-Up

July 31, 2019, Law360

Ian Hargreaves spoke with Law360 about unexplained wealth order enforcement by the NCA, specifically its fourth such case. One reason the NCA may only have used four unexplained wealth orders so far is that they require some work to carry out, according to Mr. Hargreaves. He says, “However, as those utilizing them become more familiar with the process their use may increase." He adds, "For many years the U.K. has been criticized (especially the property market in London) for allowing too much 'dirty' money to pass through its financial systems and for proceeds of crime to reside in expensive property in London. UWOs may act as a warning sign to criminals that it may no longer be easy to hide assets in the U.K. and to launder their ill-gotten gains through the U.K."

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