Amendments to the Cayman Islands Proceeds of Crime Act came into effect on 2 January 2025 and include revisions to the suspicious activity report (SAR) process to the Financial Reporting Authority (FRA). In addition to a...more
Recovering criminal assets is difficult. A good recent example of this difficulty came in October this year, when the Treasury estimated that it could recover just £1.2 billion of the £4.5 billion lost to Covid fraud. ...more
On 25 November, the High Court of England and Wales ruled in a significant decision that suspected proceeds of crime linked to unnamed individuals must be transferred to the National Crime Agency (NCA). The funds were held by...more