The Criminal Finances Act, which came into effect on 30 September 2017, made sweeping changes in relation to recovery of the proceeds of crime, corruption and terrorism, and introduced new concepts relating to unexplained wealth, and a new corporate offence of failing to prevent facilitation of tax evasion. It will undoubtedly generate substantial litigation, especially relating to the larger valued proceeds of serious crime and assets of foreign politicians, their families and associates.
This course provides legal practitioners with an introduction to this complex statute, with an emphasis on the practicalities of coping with the new and revised concepts it introduces.
Topics covered include:
Unexplained wealth orders and interim freezing orders; in which the High Court can order those suspected of being involved in serious crime, or foreign officials or politicians, to disclose the true source of high value property to enable civil recovery proceedings to be brought
Disclosure orders in support of money laundering investigations
Improved procedures in relation to money laundering suspicious activity reports (SARs)
Extending the civil recovery and cash forfeiture provisions to include addition types of property, and wider definitions of unlawful conduct
Failure by companies to prevent facilitation of tax evasion by staff