C ash Seizures
It is crucial to take legal advice as soon as possible if cash or assets have been seized.
Cash and assets can be seized by the Police, the Crown Prosecution Service (CPS), Serious Fraud Office (SFO), the National Crime Agency (NCA) and HM Revenue and Customs (HMRC). Accredited financial investigators working for certain government departments, and agencies and organisations can also exercise seizure powers.
Under the Proceeds of Crime Act (POCA), the police have the power to seizure cash or assets, which they believe have been acquired through criminal activity – and then apply to the court to forfeit the monies or assets.
There is no upper limit to the amount of money that can be seized under the Act. However, it must be more than £1,000 which the law enforcement agency must reasonably suspect to be the proceeds of crime or intended for use in criminal conduct.
Law enforcement agencies can also seize jewellery, watches, art, vouchers and stamps valued greater than £1,000, if they reasonably suspect them to be the proceeds of crime or intended for use in criminal conduct.
They can also seize anything that they reasonably believe to be stolen property or evidence in relation to an offence. However different rules apply to this type of seizure.
This can be an extremely distressing experience for individuals, families or businesses whose money or valuables are removed from their property or premises without warning.
Large sums or valuable goods might be seized in a police raid can be a terrifying experience.
Savings or emergency cash or valuable items might simply be removed from a property, leaving the innocent party or company bewildered as to why this has happened.
The police can instigate cash and asset forfeiture if they believe they are the proceeds of crime or may be used to fund crime.
However, tucking money and valuables under the floorboards – or keeping large amounts of cash in a company safe – does not necessarily mean that the monies or items are suspicious, even if an individual, family or company is under investigation by the police, HMRC, Serious Fraud Office or other investigating authority.
Once police seize monies and assets or valuables, the defendant may be required to prove where monies, assets or valuables were obtained in order for the Court to return them.
Anyone from whom assets are seized is likely to be invited for interview by the investigating agency. Unlike an interview conducted under criminal law, however, a person cannot be compelled to attend. Anyone who finds themselves in this situation is advised to think strategically about how best to respond.
Depending on the circumstances, a forensic accountant may be needed to help provide detailed analysis of the available financial records.
Belgravia Solicitors have extensive expertise in defending cash and asset forfeiture – and can help establish a record for the Court of where monies and valuables originated, so that they can be returned to the rightful owner or owners.
Belgravia Solicitors are on hand to provide you with timely advice as you need to know very quickly whether the forfeiture or seizure was legal and whether it can be challenged. If necessary, we apply for an order to the Courts to have your money returned.
If you, a family member / relative, or a friend require advice on cash or asset seizures, it is important to seek legal advice. We can be contacted on 03330 16 96 16 or on email: mail@belgraviasolicitors.co.uk