Unexplained wealth orders
Aziz Rahman, of award-winning solicitors Rahman Ravelli, explains UWO’s and explains how those in business can prevent the authorities seizing their assets.
Last month, the National Crime Agency announced that the UK’s first two unexplained wealth orders (UWO’s) had been issued. This is a development that could be significant for the business world.
UWO’s were introduced by the Criminal Finances Act 2017 and came into effect on January 31 this year. An Order requires a person to explain how an asset, such as a house, was... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...