R (UMBS Online Ltd.) v. Serious Organised Crime Agency and another – WLR Daily

Posted May 4th, 2007 in banking, law reports, proceeds of crime by sally

R (UMBS Online Ltd.) v. Serious Organised Crime Agency and another 

“The Serious Organised Crime Agency (SOCA) was a powerful statutory body whose decisions could imperil private and business banking activity on no more than a reported suspicion of money-laundering. However it should not withhold consent to a bank to allow it to operate a customer’s account under s 335 of the Proceeds of Crime Act 2002 without good reason. It had an obligation to keep matters under review and its refusal of a bank customer’s request to revisit the matter was unlawful.”

WLR Daily, 2nd May 2007

Source: www.lawreports.co.uk

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