U.K. Launches Proceeds of Crime Inquiry
21 January 2016
The U.K. Home Affairs Committee has launched an inquiry into how effective the tools in the Proceeds of Crime Act 2002 work. The main focus of the inquiry will be to consider confiscation of criminal assets, an area where the SFO is regularly criticised.
The Right Honourable Keith Vaz MP, chair of the Home Affairs Committee noted recently that almost half of all confiscation orders obtained by the SFO in the last three years are still outstanding, with millions of pounds owed by dozens of criminals.
The inquiry will focus on whether additional measures are needed to confiscate the proceeds of crime, how to address weaknesses in data sharing between organisations, how to incentivise performance, and how to make investigations more transparent.
Written evidence must be submitted by 25 February via the Home Office webpage here.