This is basically an act by the authorities in London to gain control of assets through requisition. In London, asset forfeiture is claimed to be used to disturb criminal activity through the confiscation of assets that may have been useful to the organization or individual.
Proceedings for asset confiscation are launched under the Proceeds of Crime Act 2002 in the UK, These are categorised into several types. Primarily, the confiscation proceedings are held. A court order is issued at the London Crown Court known as the confiscation order. This states that the convicted defendant is required to pay a certain mentioned amount of money by a certain date to the state. Then follow the cash seizure proceedings. These take place alongside the right of appeal to the Crown Court in the Magistrates Court, either the police or customs bring them in. After this, the third step is having civil recovery proceedings which are handed forward by the NCA. No preliminary criminal conviction is required for neither cash seizure proceedings nor civil recovery order proceedings in London.
The Criminal Finances Act 2017 assists law enforcement in the UK with a variety of new powers that are there to make forfeiting and freezing property easier. These properties are said to have been acquired in Hackney, Lambeth, Kensington and Chelsea, Islington, Tower Hamlets or Hammersmith and Fulham, in the condition of a criminal act that is alleged to be committed anywhere. Property such as this is termed as "recoverable property". A predecessor to an Asset Forfeiture Order is an Asset Freezing Order. This has to do with a type of claimed recoverable property; and credit balances maintained in any UK bank account. Account freezing can be ordered by a magistrates court in London. This can be done for up till two years if there is reasonable doubt that there is recoverable balance. The next step would be to order the entire balance to be seized if it is positive that the balance was intended for unlawful use or was acquired through unlawful acts. This is the updated law.
The grounds on which assets can be seized may include:
These orders are meant to be practised by enforcement in order to forfeit substantial amount of money without having to prove their guilt or having to persecute them. Therefore, these are easy to procure in London and need to have a we-ll thought out strategy so they may defeat.