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Records of Older Transactions Would Assist UK Asset Seizure: Senior Investigator

By Koos Couvée

U.K. authorities have used asset freezing orders, unexplained wealth orders, or UWOs, and older civil-recovery statutes to restrain and seize record sums of suspicious assets in recent years, including real estate from allegedly corrupt overseas politicos and other criminals. But those confiscation efforts have sometimes been hamstrung by a lack of records on transactions tied to suspicious property acquisitions from years past, said David Templeman, senior manager at the National Crime Agency in London. In an interview with moneylaundering.com senior reporter Koos Couvée, Templeman outlined how financial institutions and other firms have supported the NCA since adoption of the Criminal...

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