Unexplained Wealth Orders: How might this new investigative tool affect you?
Posted on February 20, 2018
Archive : February 2018
Category : Herbert Smith Freehills
Unexplained Wealth Orders: How might this new
investigative tool affect you?
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From 31 January 2018, UK authorities can use new and expansive
investigative powers to require both individuals and corporate bodies to
provide information as to how they acquired property. Known as Unexplained
Wealth Orders ("UWOs"), these new obligations to disclose information
can apply to property anywhere in the world and can be served on persons
outside the UK. This briefing considers the legal framework behind UWOs, their
interaction with other criminal and civil regimes, and the practical
implications of UWOs on individuals, institutions and trustees. Read more of this post
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