‘Unexplained Wealth Orders (UWO’s) were introduced into law through section 1 of the Criminal Finances Act 2017 by inserting section 362A to I into Part 8 of the Proceeds of Crime Act 2002 (“POCA”) They require a person who is reasonably suspected of involvement in, or being connected with persons involved in serious crime, to explain the nature and extent of their interest in property and how that interest was obtained.[1] If the person cannot provide an adequate explanation or satisfactory evidence, the property becomes recoverable property, subject to the POCA 2002.’
Pump Court Chambers, 28th April 2020
Source: www.pumpcourtchambers.com
