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Proceeds of Crime Act 2002

Report by the Performance and Innovation Unit

7.In October 1998, the Prime Minister tasked the Performance & Innovation Unit (PIU) of the Cabinet Office with examining asset recovery arrangements with a view to improving the efficiency of the recovery process and increasing the amount of illegally obtained assets recovered. The PIU report was published by the government in June 2000 with a number of legislative and other proposals including:

  • the creation of a new agency with lead responsibility for asset recovery and containing a ‘centre of excellence’ for financial investigation training;

  • the consolidation of existing laws on confiscation and money laundering into a single piece of legislation;

  • the introduction of new powers to recover criminal assets through civil proceedings, without the need for a criminal conviction;

  • gateways for the exchange of information between the new agency and the other authorities;

  • enabling the new agency to carry out tax functions in relation to criminal gains; and

  • ensuring that all the agencies involved in asset recovery have sufficient trained staff to enable the system to function efficiently.

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