UK Unexplained Wealth Orders [UWO] HO UPDATE report 2023-2024 published.

the UK Home Office published its reports (2023-2024) on Unexplained Wealth Orders under Section 362IA of the Proceeds of Crime Act 2002 in Dec 2024. see links below

• Unexplained wealth orders: 2023 to 2024 annual report
• https://www.gov.uk/government/publications/unexplained-wealth-orders-2023-to-2024-annual-report

Unexplained wealth orders require people or organisations to explain how they obtained a property. They’re issued when there are reasonable grounds to suspect either:

• The person or organisation’s known sources of income would not be enough to obtain the property
• The property was obtained through unlawful conduct

These ANNUAL reports show:

• How many times law enforcement agencies applied for an unexplained wealth order
• How many unexplained wealth orders were issued by the High Court

Unexplained Wealth Orders (UWO) may be served on two categories of respondents:

1. Politically exposed persons (PEPs) as defined in the act;
2. Persons reasonably suspected of involvement in, or of being connected with persons involved in, serious crime.

The Criminal Finances Act 2017 inserts sections 362A to 362T into the Proceeds of Crime Act 2002, allowing the court to make an unexplained wealth order (UWO) to investigate the origins of property.

In March 2022, the government expedited the passage of the Economic Crime (Transparency and Enforcement) Act 2022. That act reformed the UWO regime to expand the scope of the powers and increase operational confidence in using UWO powers.

An enforcement agency can apply to the High Court for a UWO where there are reasonable grounds for suspecting that a respondent – an individual or organisation – holds property (with a minimum combined value of £50,000); and either that their known sources of lawfully obtained income would have been insufficient to obtain the property in question, or that the property was obtained through unlawful conduct.

Reports on unexplained wealth orders under Section 362IA of the Proceeds of Crime Act 2002.

1. Unexplained wealth orders require people or organisations to explain how they obtained a property. They’re issued when there are reasonable grounds to suspect either:

1. 1. The person or organisation’s known sources of income would not be enough to obtain the property
   2. The property was obtained through unlawful conduct
2. These ANNUAL reports show:
   1. How many times law enforcement agencies applied for an unexplained wealth order
   2. How many unexplained wealth orders were issued by the High Court
3. Annual reports
   1. 1. Unexplained wealth orders: 2023 to 2024 annual report
         1. https://www.gov.uk/government/publications/unexplained-wealth-orders-2023-to-2024-annual-report
         2. 18 December 2024
      2. Unexplained wealth orders: 2022 to 2023 annual report
         1. https://www.gov.uk/government/publications/unexplained-wealth-orders-2022-to-2023-annual-report
         2. 21 September 2023

Source

https://www.gov.uk/government/collections/unexplained-wealth-orders