Peters & Peters

“The beginning of the end for Unexplained Wealth Orders?” Rachel Cook discusses in The Wealth Net

In 2016, the government announced that hundreds of UK properties, suspected of belonging to corrupt individuals, would be seized by enforcement agencies under a tough new tool : Unexplained Wealth Orders (UWOs). The orders were designed to tackle London’s reputation as a haven for dirty money, shinning a light on anonymous ultimate beneficial owners, and expectations were high. However, despite a promising start, UWOs have since been used cautiously, only deployed against four targets. Read more