The McMafia Laws: Unexplained Wealth Orders Explained

Introduction

The concept of an Unexplained Wealth Order ("UWO") was introduced in the UK in January 2018 under the Criminal Finances Act 2017.¹ This law was nicknamed the "McMafia" laws after the BBC's organised crime drama. In its 2017 Impact Assessment, the UK Home Office concluded that the size of the UK financial and professional services sector, the open economy and the attractiveness of its property market to overseas investors made the UK unusually exposed to financial crime.² It found the then anti-money-laundering regime inadequate and considered that the new measures proposed and subsequently introduced by the Criminal Finances Act 2017 would increase the effectiveness of enforcement agencies in combating financial crimes.