UK to force suspected criminals to reveal source of wealth
13 Oct 2016

Britain will give law enforcement agencies the power to force suspected criminals to explain the source of their wealth under new legislation published on Thursday.

The government said the Criminal Finances Bill, which is subject to parliament’s approval, would introduce “unexplained wealth orders”, under which those who are not able to say where their wealth came from will face having their assets seized.

The bill will also introduce a new criminal offence for companies who fail to prevent tax evasion, and will allow the sharing of information, such as data on financial transactions, between regulated bodies to combat money-laundering.

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