Restraint orders under the Proceeds of Crime Act 2002

I have written a new blog article on my website - in Q & A format - dealing with as briefly as I can with the key points regarding restraint orders under the Proceeds of Crime Act 2002.

Essentially a restraint order under the Proceeds of Crime Act 2002 is an order made by a Crown Court judge, normally at the request of the police or other investigating or prosecuting authority, which effectively ‘freezes’ the assets (including bank accounts) of an individual or a company.  A single restraint order may apply to several connected individuals and / or companies.  A restraint order is typically designed to ‘freeze’ all the assets of the individual(s) and company(ies) to whom it is directed, including assets legitimately acquired and even including assets outside the UK.

Since breaching a restraint order can lead to imprisonment, and unduly onerous restraint orders can be varied or lifted, if you have any clients who are subject to a restraint order you should tell them to get legal advice straightaway.

It is not necessarily the case that a person subject to a restraint order is himself suspected of having committed any offence (he may have received a 'tainted gift' from another person who is suspected of an offence).

The full article can be found by clicking HERE.

David

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Group: Money laundering and crime
A group for discussing issues relating to suspected money laundering and other crime