Money Laundering, POCA & Asset Forfeiture

The Proceeds of Crime Act 2002 (POCA) remains a conundrum to many, troubling the appellate courts like few other areas of the law. POCA issues transcend a number of different areas of law, so it is crucial for any company or private individual needing advice in this area to instruct a barrister with specialist knowledge of the area so as to mitigate and if possible avoid the risks of criminal liability and lost or frozen assets.

OTC has a formidable reputation in POCA and Asset Recovery work. Owing to the set’s longstanding foundations in financial crime and financial services, it is well-placed to advise and provide advocacy services in all matters relating to this field. Members are routinely instructed in high-profile and large-value matters, often involving complicated cross-jurisdictional aspects and/or assets held by third parties.

The set undertakes work for all the big UK enforcement agencies, including the CPS, SFO, NCA, FCA, HMRC and UKBF. It is also routinely instructed by US and City law firms, financial institutions, insolvency practitioners and accountants. In addition, Oliver Powell has assisted Transparency International UK on POCA matters: most recently in respect of the Criminal Finances Act 2017, which brought about a number of significant changes to POCA 2002, most notably the introduction of AFOs and UWOs.

Often, a problem with POCA can uncover issues with an organisation’s internal AML controls and policies. Our team includes members with hands-on, in-house experience of building, running and remediating AML programmes for large multinational corporates. Our pragmatic approach means that we can advise on and (if the client desires it) oversee reviews and enhancements to systems and controls.

The team includes a host of editors and contributors to practitioners texts that majors on or deals with POCA and Asset Forfeiture, including ‘Blackstone’s Criminal Practice’, The Practitioner’s Guide to Global Investigations (GIR), ‘Lissack and Horlick on Bribery and Corruption’, ‘Millington and Sutherland Williams on the Proceeds of Crime’, and the Government’s Public Sector Counter Fraud Journal.

Members of the team are regularly invited to speak at to speak at AML, POCA and asset recovery conferences. Amongst others, these have included: AMLP Annual Anti-Bribery and Corruption Forum; FLA; POCLA and YFLA.

Member of Business Crime & regulatory team are ranked in both Chambers & Partners (UK Bar) and Legal 500 for POCA and Asset Forfeiture.