Peters & Peters

Senior Associate Rachel Cook discusses, ‘Unexplained wealth orders : what advisers must be aware of’ in International Adviser

A financial services adviser recently found himself on the receiving end of one of the UK’s newest tools in its fight against money laundering : unexplained wealth orders (UWOs). These orders have the power to compel an individual – either a politically exposed person (PEP) or a person who is suspected of involvement in, or association with, serious criminality – to explain the origin of assets that appear to be disproportionate to their known income. Read more