Baronak-Atkins, Monika (2024) Criminal Finances Act 2017: unexplained wealth orders. In: Meiselles, Michala, Ryder, Nicholas and Visconti, Arianna, (eds.) Corporate Criminal Liability and Sanctions Current Trends and Policy Changes. Routledge, London. ISBN 978-1032349992 (doi:10.4324/9781003324829)

Preview

PDF (Accepted Book Chapter) 52668 BARONAK-ATKINS_Criminal_Finances_Act_2017_Unexplained_Wealth_Orders_(AAM)_2024.pdf - Accepted Version Available under License Creative Commons Attribution Non-commercial No Derivatives. Download (244kB) | Preview

Abstract

The Criminal Finances Act (CFA) 2017 has introduced the novel Unexplained Wealth Orders (UWO) which represent a significant statutory overhaul in asset recovery in the United Kingdom (UK). In this chapter, the reader is introduced to the CFA 2017 with a specific focus on the provisions governing UWOs. The chapter includes case studies of the first three UWO cases in the UK, considers the mixed reaction to the introduction of these largely untested tools and assesses the legislative and compliance effectiveness of these novel provisions. Civil asset recovery has historically been a much-debated area, however, despite initial challenges, society has gradually accepted it as a necessary tool for combating modern crime. One of the questions discussed in this chapter is whether the asset recovery provisions introduced by the CFA 2017 extend these powers beyond proportionate. In any event, deservingly or not, these new provisions attract much public interest. However, despite the popular belief that a UWO is a powerful tool in fighting the so called “oligarch wealth” it is clear from the legislation as well as the case law so far, that a UWO is not a “final destination” for enforcement agencies, but rather an “investigative tool” to assist in obtaining information to support asset recovery proceedings.

Item Type:	Book Section
Uncontrolled Keywords:	financial crime
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HF Commerce > HF5601 Accounting K Law > K Law (General)
Faculty / School / Research Centre / Research Group:	Faculty of Law, Arts and Social Sciences Faculty of Law, Arts and Social Sciences > School of Law and Criminology
Related URLs:	Publisher
Last Modified:	20 Mar 2026 17:36
URI:	https://gala.gre.ac.uk/id/eprint/52668

Actions (login required)

View Item

Downloads