Criminal Finances Act 2017 / Unexplained Wealth Orders

Summary

Introduced Unexplained Wealth Orders (UWOs) enabling UK law enforcement to require individuals with assets disproportionate to known income to explain their origin. Also introduced Account Freezing Orders and expanded corporate criminal liability for failure to prevent tax evasion. Can target foreign officials holding UK property.

Relevance to the diaspora

UWOs are a potential accountability tool for the Tamil diaspora's advocacy: Sri Lankan military officials or politically connected individuals who committed war crimes and who hold UK property could in principle be targeted by UWO applications by the National Crime Agency.

Key provisions

• s.1 — Unexplained Wealth Orders (inserting s.362A into POCA 2002)
• s.3 — Account Freezing Orders
• s.45 — corporate offence of failure to prevent tax evasion (UK)
• s.46 — corporate offence of failure to prevent tax evasion (foreign)

Primary source

Related entries

• → Proceeds of Crime Act 2002 (UK)
• → Global Human Rights Sanctions Regulations 2020 (UK Magnitsky) (UK)