A new weapon in the war on dirty money has attracted
much press attention and legal commentary recently – the
Unexplained Wealth Order. Ian Gatt QC and Pia Mithani consider the
new Unexplained Wealth Order under the Criminal Finances Act 2017,
its scope and practical operation, and what impact it might have in
the world of civil asset recovery.
Minister of State for Security Ben Wallace has welcomed the
Unexplained Wealth Order as a key weapon in the war on fraudsters
and corrupt politicians with the promise that these individuals
will now face the full force of the law. However, the response from
law enforcement agencies is more muted. David Green QC, Director of
the Serious Fraud Office (SFO) accepts their uses but believes we
are not about to experience a sudden onslaught of forced asset
disclosure. Unused by the SFO to date, he says the SFO is waiting
for "the right case".
