An earlier version of this article first appeared in the
September 2019 issue of Butterworths' Journal of International
Banking and Financial Law.
Unexplained wealth orders (UWO) were introduced in January 2018
and the National Crime Agency (NCA) has now successfully obtained
five. All but one of the orders specifically target premium London
properties; with the remaining order covering eight properties
across the UK. This article reflects on the reported use of UWOs to
date and considers the inadvertent impact on mortgagees.
What are UWOs
UWOs were introduced in January 2018, by the Criminal Finances
Act 2017, and are governed by Part 8 of the Proceeds of Crime Act
2002 (POCA). A UWO can be obtained in respect of any property
valued over GBP50,000, situated anywhere in the world. They
essentially reverse the burden of proof; requiring an individual to
prove that the property identified in the order is not the proceeds
of crime, rather than requiring the state to
