Why Should Scammers Benefit From The Proceeds Of Crime
Home Secretary of the House of Commons, David Blunkett introduced The Proceeds of Crime Bill on 18 October 2001. It was passed by Royal Assent on 24 July 2002. The purpose of this law is to facilitate the Assets Recovery Agency to recover property obtained through criminal behaviour.
The Assets Recovery Agency is now called the Serious Organised Crime Agency (SOCA). The government has new powers to recover the proceeds of any criminal activity. Police and customs officers can retrieve cash that was made through crime-related acts. The courts can freeze assets of a suspect who is believed a criminal.
The authorities can halt money laundering. Requires banks and other financial institutions to disclose suspicious transactions. It is now a criminal activity for an individual working in finance to fail to report suspicions of money laundering taking place.
Paul Evans from SOCA delivered the annual speech at the Commercial Crime Services (CSS) annual banquet held on 16 June 2009. He talked about SOCA’s ways of dealing with organised crime by making it unstable. They have as their goal the wiping out of organised crime networks in the United Kingdom. His speech was well received.
The Office Of Fair Trading estimates the cost UK fraud victims pay because of organised crime to be approximately 3.5 billion pounds annually. SOCA attacks mass marketing fraud schemes and intercepts money sent by the victims to fraudulent scammers. Mr. Evans believes in educating the public in ways to protect themselves from being victimized.
Those criminals are trying to take away people’s hard-earned money by scamming them. They are now being relieved of the proceeds of crime illegally gained. SOCA uses their power to detect the scams and deal with them. The risk of detection is increased tenfold. SOCA plans to launch a campaign to dismantle organised crime and bring charges against those responsible for defrauding people. The criminals have a new destination, a jail cell.
Business valuations and forensic accounting and services in relation to commercial disputes are niche services you can get at financial firms. If you need to know more about proceeds of crime why not go to the BTG Forensic site for details on how the cases are dealt and who might need it.
