The authorities muster their forces to tackle ‘dirty money’. David Corker remains unimpressed
The Criminal Finances Act 2017 (CFA) is the most significant criminal fraud statute for many years. While the Criminal Justice Act 2003 affected criminal law changes in relation to hearsay, bad character and disclosure, there was no specific focus on fraud. Although the Fraud Act 2006 and the Bribery Act 2010 are noteworthy, their effects are limited. The former was enacted partly to abolish recourse to the common law offence of conspiracy to defraud, an enduring Serious Fraud Office (SFO) favourite. The bribery statute, a key milestone in the expanded model of corporate criminal liability, is otherwise narrowly focused.
Unexplained wealth orders
Chapter 1 of Part 1 and Part 3 of the CFA are key provisions. The former concerns unexplained wealth orders (UWOs). Within a month of being implemented, the National Crime Agency proclaimed that it had obtained two of these. Part 3 concerns the new corporate criminal offence: facilitation of tax evasion. Only a few prosecutions are contemplated; of these, almost none in relation
