August 19, 2019

UK court grants the NCA the largest account freezing orders ever issued under the Criminal Finances Act 2017

On August 12, 2019, The UK National Crime Agency obtained eight Account Freezing Orders (AFOs) pursuant to the Criminal Finances Act 2017.  The AFOs, which will allow the NCA to investigate the funds, freeze over £100 million ($122 million).  If the NCA determines that the funds are intended to be used in, or derived from, unlawful conduct, the agency may seek to recover the funds.  No details about the bank accounts were provided, other than to say that £20 million connected with a linked individual were frozen in December 2018, and that the funds in the eight frozen bank accounts are suspected to have derived from corruption overseas. 

NCA news release