The First Unexplained Wealth Order Against A UK-Based Individual Suspected Of Serious Organised Crime Has Been Issued

Syedur Rahman, of business crime solicitors Rahman Ravelli, outlines its significance.

The National Crime Agency (NCA) has secured its first serious organised crime unexplained wealth order.

A businessman from the north of England with suspected links to serious organised criminals has been ordered to reveal the source of funds used to start and develop his £10 million property empire. The NCA has secured a number of UWOs previously, but this is the first time one has been obtained solely based on an individual's alleged involvement in serious organised crime.

Officers believe the businessman's property purchases were funded by a number of criminal associates involved in drug trafficking, armed robberies and supplying firearms. Interim Freezing Orders have also been granted which means that the properties cannot be sold, transferred or dissipated while the investigation continues.

Andy Lewis, Head of Asset Denial at the NCA, said: "We are pleased to have again successfully secured a UWO to allow us to investigate the source of the funds used to purchase these properties. These orders are a powerful tool in being able to investigate illicit finance generated within, or flowing into the UK and discourage it happening in the first place.''

This is a significant move from the NCA because it is the first time we have seen a UWO...