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ARTICLE · 28 SEPTEMBER 2020

SFO Use ‘Listed Asset' Provisions For The First Time

BCL Solicitors LLP
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It was announced on Wednesday that the Serious Fraud Office has recovered half a million pounds worth of jewellery from a safe deposit box under the listed asset provisions of the Proceeds of Crime Act 2002.

United KingdomCriminal Law
Jonathan Flynn
Jonathan Flynn
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It was announced on Wednesday that the Serious Fraud Office (SFO) has recovered half a million pounds worth of jewellery from a safe deposit box under the listed asset provisions of the Proceeds of Crime Act 2002 (POCA). The forfeiture is part of a civil recovery investigation arising from the Birmingham Mortgage Fraud case: a £50 million fraud investigation/prosecution that began in March 2006.1

The listed asset provisions are a relatively new law enforcement tool that was introduced by the Criminal Finances Act 2017. They allow 'relevant officers' – including constables, and certain officers of the SFO, Her Majesty's Revenue & Customs (HMRC) and the National Crime Agency (NCA) – to seize an item of property if they have reasonable grounds to suspect that:

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