Change of pace: the Criminal Finances Bill

Susannah Cogman (+44 (0)20 7466 2580, susannah.cogman@hsf.com) and Dan Hudson (+44 (0)20 7466 2470, daniel.hudson@hsf.com) are partners and Kate Meakin (+44 20 7466 2169, kate.meakin@hsf.com) is of counsel at Herbert Smith Freehills in London.

Taking the profit out of crime, often a seemingly ponderous work in progress, at least at strategic level, is poised to accelerate in the UK: new proposals to remove unexplained wealth, formalise information sharing between regulated entities, extend police powers to follow up on suspicious activity reports and apply for a longer moratorium period following a consent filing, to name but four, were placed before Parliament on 13 October. Susannah Cogman, Dan Hudson and Kate Meakin of Herbert Smith Freehills run through the measures.