Jonathan Fisher QC explores unexplained wealth orders
- Several questions concerning the introduction of the unexplained wealth order remain unanswered
The proposed introduction of a free-standing procedure into the Proceeds of Crime Act 2002 (POCA 2002) which compels an individual to explain the source of his wealth is a radical development in English law. More usually, judges are required to decide upon matters relating to disclosure of information where the issue arises during civil proceedings, or where a defendant seeks to explain the legitimate origin of his assets in confiscation proceedings following criminal conviction.
Under the new provision, which is the first to be introduced by the Criminal Finances Bill 2016 and is to be known as an unexplained wealth order (UWO), there is no need for any civil or criminal proceedings to have been initiated. An enforcement authority may apply to the High Court in circumstances where an individual is a foreign politically-exposed person (PEP), or there are reasonable grounds to suspect that an individual has been involved in serious crime. An order could also be obtained against associates, so
