UWOs three years on: Underused and overpriced
By EsqSocial Corporation 30/03/21
In January 2018 the Criminal Finances Act 2017 (“the Act”) came into force. The Act brought in a number of important legal developments, including Asset Freezing and Forfeiture Orders (“AFFOs”) and the offence of failure to prevent tax evasion. But perhaps the most significant, or at least widely publicised, aspect of the Act was the introduction of Unexplained Wealth Orders (“UWOs”), which can be used by an enforcement authority to require a person to explain the origin of a significant asset,...
By: WilmerHale