Looking abroad - NCA use of asset freezing and forfeiture orders

Maria Cronin (+44 (0)20 7822 7737, mcronin@petersandpeters.com) is a partner and Karl Masi (+44 (0)20 7822 7740, kmasi@petersandpeters.com) an associate at Peters & Peters Solicitors LLP. They represented the executive in the AFFO proceedings referred to in this article.

The 31 January 2021 is the third anniversary of the introduction of Asset Freezing and Forfeiture Orders (AFFOs) by the Criminal Finances Act 2017 (CFA 2017), which also heralded Unexplained Wealth Orders and a power to increase the moratorium period for investigating suspicious transactions. Maria Cronin and Karl Masi of Peters & Peters examine law enforcement’s use of AFFOs and the recent practice of founding them on foreign convictions.