The Criminal Finances Bill proposes various amendments
to the Proceeds of Crime Act 2002 which deals with civil recovery.
Sundeep Soor, Head of Fraud and Tax at Cartwright King
Solicitors outlines what these are in this article.
Cartwright King have successfully acted for numerous businesses
and individuals in relation to cash seizure, detention and
forfeiture cases. New provisions extend detention and forfeiture
beyond cash. Similar provisions proposed will affect monies in bank
or building society accounts which would involve these accounts
initially being 'frozen' for up to 2 years.
The authority would need to show initially that 'reasonable
grounds' exist to show that the monies are suspected to be
'recoverable property' or is suspected to be intended for
use in crime. Once the investigation is concluded an application
for the forfeiture of the funds would be made and ordered if the
court is satisfied that the cash is 'recoverable property'
or is intended for
