Economic Crime and Corporate Transparency Act 2023 (UK)

Summary

Reformed Companies House verification, expanded SFO powers, introduced a new corporate 'failure to prevent fraud' offence, and strengthened crypto-asset seizure under POCA.

Relevance to the diaspora

Strengthens the UK's ability to trace and freeze illicit assets — directly relevant to alleged Sri Lankan state-linked wealth held via UK corporate structures.

Key provisions

• Companies House identity verification
• Failure to prevent fraud offence
• Crypto-asset seizure powers
• Expanded SFO powers

Primary source

Related entries

• → Proceeds of Crime Act 2002 (UK)
• → Criminal Finances Act 2017 / Unexplained Wealth Orders (UK)
• → Global Human Rights Sanctions Regulations 2020 (UK Magnitsky) (UK)