Money Laundering: UK Acts Against Foreign Politician

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British officials, under a new anti-corruption provision, have begun a money laundering investigation into the assets held by an unnamed foreign politician holding assets in the United Kingdom worth nearly £22 million.

The National Crime Agency (NCA) said it had secured two unexplained wealth orders (UWOs) to investigate assets believed to ultimately be owned by a politically exposed person (PEP). The orders came into force in January, following growing concerns of money laundering.

“These are the first such orders granted and represent the first time the legislation will be tested through the court. The orders relate to two properties, one in London and one in the south east of England,” the NCA said, without naming the politician or the country except that he is from Asia.

In addition to the UWOs, interim freezing orders were granted, meaning that the assets cannot be sold, transferred or dissipated while subject to the order.

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