Forbes has published a new column written by Robert Houchill

Robert Houchill - Senior Associate

Associate at Maxima Legal, Robert Houchill has written a column for Forbes about the main provisions of the UK legislation, the Criminal Finances Act.

In the beginning of February, the British authorities obtained new powers to issue orders against assets purchased with funds from unexplained sources, called Unexplained Wealth Orders. The orders provide that assets can be frozen or seized from political exposed persons or those suspected of being involved in serious crimes when the assets have a value of more than £50,000 and the source of the funds for its purchase is unclear.

A list prepared by the government of individuals who may be targeted by Unexplained Wealth Orders is understood to include a number of Russian citizens or those with connections to Russia.

For the full text of the article, please see the Forbes website.