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Proceeds of Crime Act 2002

Account monitoring orders
Section 404: Account monitoring orders

550.Section 404 has the effect of requiring a financial institution to provide specified information in relation to an account (for example, details of all transactions passing through the account) during a specified period up to a maximum of 90 days. The information would normally be provided in the form of a bank statement. An account monitoring order may be obtained in respect of all three types of investigation specified in section 341 and can be applied for by an appropriate person as specified in section 412.

Section 405: Requirements for making of account monitoring order

551.As part of his consideration of the proportionality test that he must apply by virtue of section 6 of the Human Rights Act 1998, the sheriff might want to satisfy himself that an order of this type (rather than a production order) is necessary for the purpose of the investigation.

Section 406: Statements

552.As with the disclosure and customer information orders, an account monitoring order compels an institution to divulge information. Similar to the provisions for disclosure orders and customer information orders, section 400 sets out the standard conditions on the use of such information to prevent self-incriminatory information being used as evidence in criminal proceedings against the financial institutions (subject to certain limited exceptions).

Section 408: Supplementary

553.Subsection (4) allows application to be made to discharge or vary an account monitoring order.

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