Peters & Peters

Partner Maria Cronin and Associate Eamon McCarthy-Keen discuss how the ‘Industry must be clear on AFOs’ in their article published by the FT Advisor.

Since 31 January  2018, UK law enforcement has had a number of new powers at its disposal, introduced into the Proceeds of Crime Act 2002 by the Criminal Finances Act 2017. These provide UK law enforcement with potentially ground-breaking new powers to freeze and recover the alleged proceeds of crime. Lesser known provisions, which involve the freezing and forfeiture of money held in bank and building society accounts, will most likely prove of most relevance and concern to financial institutions and bank account holders.

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