Autoren

Andrew Howell

Partner

Read More

Georgina Jones

Senior Associate

Read More

Michelle George

Senior Associate

Read More
Autoren

Andrew Howell

Partner

Read More

Georgina Jones

Senior Associate

Read More

Michelle George

Senior Associate

Read More

7. Mai 2020

Disputes Quick Read – 39 von 63 Insights

Disputes Quick Read: The latest on Unexplained Wealth Orders

  • QUICK READ

When Unexplained Wealth Orders (UWO) were introduced, legal commentators pondered whether the legislation was another idle threat to bolster the government's announcements that we must clamp down on businesses using off shore accounts and overseas investment funds purchasing UK property portfolios in an attempt to avoiding paying tax.

In reality, the National Crime Agency (NCA) has primarily targeted wealthy families. 

Once made the subject of an order, an individual is required by the authorities to provide a detailed account of how they came to own an asset, shifting the burden of proof away from authorities. In short, individuals are required to prove the legitimacy of their assets or risk forfeiting them.

To obtain an UWO, the enforcement agency must establish that there is property worth in excess of £50,000 (or a number of properties to that cumulative value) owned by an individual who is either politically exposed, suspected of having committed a serious crime or is someone "connected" to a person suspected of such – a very low bar indeed.  

Zamira Hajiyeva, "the woman who spent £16m at Harrods", was the first subject of a UWO. This order was challenged but ultimately upheld by the High Court, representing an early victory for the NCA. Buoyed by the win, the NCA then set their sights on Kazakh Nurali Aliyev and his mother Dariga Nazarbayeva, High Net Worth political individuals based in Kazakhstan. 

Having obtained the UWOs, the NCA's success was short lived as, on 8 April 2020, the High Court handed down a damming judgment stating the NCA had proceeded on "unreliable evidence". The key principle of the ruling was that the use of off-shore structures, while demonstrative, is not conclusive evidence of criminal property. 

While this gives private client lawyers and their clients a bit of breathing space, we doubt the NCA will be discouraged by the ruling. It will, however, require the NCA to think twice before chasing the low hanging fruit by simply targeting any offshore structure. As for lawyers, we must continue to scrutinise and challenge "evidence" the NCA presents against our clients. 

 

In dieser Serie

Disputes & Investigations

Disputes Quick Read: Ethereum Merge - what legal issues arise?

22. September 2022

von Ben Jones, Emma Allen

Kryptowährungen, Blockchain und Distributed-Ledger-Technologie

Disputes Quick Read: New obligations on cryptobusinesses to report under the UK sanctions regime

9. August 2022

von Nick Maday, Katie Fry-Paul

Disputes & Investigations

Disputes Quick Read: New gateway for serving Norwich Pharmacal Orders and Bankers Trust orders out of the jurisdiction

Welcome news for those pursuing fraud claims in the English Courts

28. July 2022

von Emma Allen, Samantha Brendish

Disputes & Investigations

Disputes Quick Read: Key changes to the Disclosure Pilot Scheme

13. September 2021

von Edward Spencer

Disputes & Investigations

Disputes Quick Read: UK Supreme Court rules on the territorial extent of the SFO's powers

26. February 2021

von mehreren Autoren

Disputes & Investigations

Disputes Quick Read: Care required when drafting SPA claim notices

23. September 2020

von mehreren Autoren

Disputes & Investigations

Disputes Quick Read: The importance of proper service

26. May 2020

von Edward Spencer

Disputes & Investigations

Disputes Quick Read: The latest on Unexplained Wealth Orders

7. May 2020

von mehreren Autoren

Coronavirus

Disputes Quick Read: COVID-19 and supply chain disruption – key issues

9. April 2020

von mehreren Autoren

Disputes & Investigations

Disputes Quick Read: Tomlin Orders – ensuring the confidentiality of settlement terms

27. April 2020

von mehreren Autoren

Coronavirus

Disputes Quick Read: Embracing remote hearings – the experience to date

26. March 2020

von mehreren Autoren

Disputes & Investigations

Disputes Quick Read: Commercial Court's arbitral power shift

21. February 2020

von Andrew Howell

Disputes & Investigations

Disputes quick read: pilot error?

13. February 2020

von Andrew Howell

Disputes & Investigations

Disputes Quick Read: Privilege waiver warning

2. July 2020

von Tim Strong, Georgina Jones

Disputes & Investigations

Disputes Quick Read: Dealing in crypto? Be careful what you call it

7. April 2022

von mehreren Autoren

Call To Action Arrow Image

Newsletter-Anmeldung

Wählen Sie aus unserem Angebot Ihre Interessen aus!

Jetzt abonnieren
Jetzt abonnieren

Related Insights

Private Wealth

The fine art of fraud

9. Dezember 2022

von mehreren Autoren

Klicken Sie hier für Details
Disputes & Investigations

Economic Crime Bill – rushed through and ready to go?

22. März 2022
Briefing

von Michelle George

Klicken Sie hier für Details