Account monitoring order meaning

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This Practice Note summarises the confiscation regime set out in the Proceeds of Crime Act 2002 (POCA 2002), together with the changes introduced by Schedule 8 to the Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023), insofar as it operates in Scotland. Schedule 8 amended the Proceeds of Crime Act 2022 to make provisions in connection with cryptoassets and confiscation orders. Those amendments have not yet been brought into force. Introduction to Scottish confiscation law and procedure Confiscation is the mechanism by which, after conviction, an offender’s financial gain from offending is taken away. The POCA 2002 confiscation provisions are designed to facilitate the recovery and seizure of the proceeds of crime in order to: disincentivise criminal activity, and prevent offenders from retaining the proceeds of crime following conviction This Practice Note addresses the Scottish confiscation process and procedure. For the parallel provisions in England and Wales, see the subtopic: Restraint and Confiscation. A confiscation order requires...

This Practice Note sets out the Scottish process for civil recovery before the Sheriff Court, covering cash, listed assets and accounts. It further explains the investigatory powers available within the civil recovery process. It does not address seeking a civil recovery order in the Court of Session under Chapter 3 of Part 5 of the Proceeds of Crime Act 2002 (POCA 2002). For guidance, see Practice Note: Scottish civil recovery—process and procedure in the Court of Session. For the equivalent position in England and Wales, see Practice Notes: Civil recovery orders under the Proceeds of Crime Act 2002 and Civil recovery under POCA 2002—procedure. Statutory framework for civil recovery in Scotland POCA 2002, Pt 5 empowers enforcement authorities to bring civil proceedings to recover property, cash, or—by virtue of provisions introduced by the Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023)—a cryptoasset that has been obtained through, or is intended to be used in, unlawful conduct. See our E&W Practice Note: Civil recovery orders under the Proceeds...

Investigatory orders available under POCA 2002, Pt 8 The investigatory measures available under Part 8 of the Proceeds of Crime Act 2002 (POCA 2002) comprise the following types of orders: production orders search and seizure warrants disclosure orders customer information orders account monitoring orders unexplained wealth orders (UWO) and associated interim freezing orders Taken together, these are all commonly referred to as the Part 8 investigatory orders...