U nexplained Wealth Orders
It is crucial to take legal advice as soon as possible if there is a possibility an Unexplained Wealth Order could be made.
Unexplained Wealth Orders (UWO) came into force in January 2018 to help authorities identify and seize property suspected to have been purchased by laundered criminal funds.
A UWO places the burden on the individual, rather than the enforcement agency, to prove how they have accumulated their wealth and to raise evidence to verify the sources of the wealth.
A UWO can be issued by the High Court where an individual is ‘reasonably suspected’ of involvement or connected to a person involved in serious crime. It obliges the individual to explain how property was obtained.
It is often difficult for agencies to prove how individuals obtain their wealth when they are based overseas or where ownership of the assets is very complex. Under these circumstances, it is evidentially onerous to arrest and charge the individuals with a criminal offence.
In addition to the Hight Court, an order can also be applied for by the:
- National Crime Agency
- Crown Prosecution Service
- HMRC
- Financial Conduct Authority
- Serious Fraud Office
There are circumstances in which UWOs can be challenged. These can be as follows:
- Were the officers open and transparent with the judge in their application?
- Have the statutory criteria been met?
- Is the individual correctly described as a ‘politically exposed person’ or is the connection with the alleged criminal activity sufficiently strong?
- To what extent is the individual obliged to comply with the order?
If you, a family member / relative, or a friend have been served with an Unexplained Wealth Order (UWO), it is important to seek legal advice. If you need any help regarding an Unexplained Wealth Order (UWO), we can be contacted on 03330 16 96 16 or on email: mail@belgraviasolicitors.co.uk
