Since the full-scale invasion of Ukraine in February 2022 the UK has taken long-needed steps to counter economic crimes including corruption and kleptocracy. This includes two Economic Crime Acts and a new Economic Crime Plan. While we welcome this important progress, the UK remains vulnerable in several critical areas. The scope of the Criminal Justice Bill (CJB) offers Parliament the opportunity to address three key weaknesses that are undermining the UK’s ability to tackle economic crime effectively by:
- Closing a major enforcement gap to ensure senior executives are effectively held criminally liable for economic crime.
- Enabling fines and more seized assets to be reinvested back into law enforcement to boost their resources.
- Protecting law enforcement agencies from prohibitive costs when they pursue deep-pocketed individuals’ suspected criminal proceeds.
To read the full submission, use the link below.