On Nov. 13, UK GVT amended the orders on external investigations.
UK GVT published The proceeds of crime act 2002 (external investigations and external orders and requests) (amendment) order 2024 (StIn 2024/1127).
This order amends the Proceeds of crime act 2002 (external requests and orders) order 2005 (StIn 2005/3181), the Proceeds of crime act 2002 (external investigations) order 2013 (StIn 2013/2605) as well as the Proceeds of crime act 2002 (external investigations) order 2014 (StIn 2014/1893) (together, the relevant orders).
Relevant Orders
Orders issued to facilitate overseas requests, orders, investigations re financial matters stemming from criminal conduct, as defined in Proceeds of crime act 2002, s. 447.
Orders correspond to certain provisions of the 2002 Act and made under ss. 444, 445.
Provisions of 2002 act to which the relevant orders correspond were amended by Economic crime (transparency and enforcement) act 2022, which reformed the unexplained wealth order (UWO) regime, and by Economic crime and corporate transparency act 2023, which amended the 2002 act to allow for cryptoasset recovery.
2024 Amendment Order
POCA act is primary framework for recovering assets connected with criminal conduct.
This order provides the same level of international co-operation in investigating, freezing, recovering proceeds of crime, as available in domestic cases, for UWOs, etc.
Allows proceeds of crime located in the UK to be subject to investigation or legal proceedings when an overseas jurisdiction requests the use of such powers.
