Update on the UK Confiscation and Restraint Regime

December 19, 2013

The National Audit Office has published a report dated 17 December 2013 (the “NAO Report”) on confiscation orders, which are the main mechanism that the UK Government uses in carrying out its policy to deprive criminals of the proceeds of their crimes.

Confiscation orders in tax fraud, corruption, insider dealing and other white collar cases can run into millions, if not tens of millions, of pounds and can be made against companies as well as individuals.

The NAO Report indicates that the confiscation regime is not functioning well with the key statement being that an estimated £0.26 is confiscated for every £100 of criminal proceeds.

Read "Update on the UK Confiscation and Restraint Regime".