The Return Of The Unexplained Wealth Order?

On 17 January 2025, the Serious Fraud Office (SFO) was granted its first unexplained wealth order. The SFOs unexplained wealth order (UWO) related to a £1.5 million property owned by Claire Schools, the ex-wife of Timothy Schools, who was convicted in 2022 of five counts of fraudulent trading, fraud by abuse of position and money laundering.

The question that fails to be asked is if this will trigger the return of more widely use of UWOs?

What are unexplained wealth orders?

UWOs were introduced by section 1 of the Criminal Finances Act 2017. Their introduction was heralded as an important step in challenging illicit finances and, as the name would suggest, help recover the unexplained wealth of persons who often owned valuable assets, be it property, art, vehicles, planes, watches or jewellery. UWOs require respondents to explain the sources of the funds which enabled them to obtain certain assets.