Investigators with the U.K. National Crime Agency, or NCA, have secured permission to freeze more than £100 million in eight bank accounts on suspicion that the funds derive from overseas bribery and corruption, the agency disclosed Wednesday. The account freezing orders, which Westminster Magistrates Court in London granted Monday, authorize the largest temporary restrainment of suspicious funds to date under the Criminal Finances Act 2017. Another £20 million in assets tied to the case was frozen in December, according to the NCA, which did not identify the suspects or the banks involved. Investigators can hold the funds for up to...
A U.K. public-private partnership set up last year to tackle financial crime took its first major action Thursday by freezing nearly 100 bank accounts suspected of being used to launder millions of pounds for crime syndicates.
A U.K. court has approved the permanent seizure of nearly £500,000 from the bank accounts of a 22-year-old student in London after the National Crime Agency, or NCA, linked the funds to overseas corruption.
A new law that gives U.K. officials up to seven months to freeze and investigate suspicious transfers played a key role in foiling the theft of hundreds of millions of dollars from the National Bank of Angola last year, according to legal records and an unpublished report.