Towards fighting corruption which has been described as a cancer that eats through basic foundations and fabrics of a nation like Nigeria and other countries suffering same fate, the UK Government, in making good its nation’s commitments has among others, proposed a Criminal Finance Bill suggesting; ‘Hundreds of British properties suspected of belonging to corrupt politicians, tax evaders and criminals could be seized by enforcement agencies under tough new laws designed to tackle London’s reputation as a haven for dirty money.
The National Crime Agency believes up to £100bn of tainted cash could be passing through the UK each year. Much of it ends up in real estate, and in other assets such as luxury cars, art and jewellery.
The Bill is introducing the concept of “unexplained wealth orders”. The Serious Fraud Office, HM Revenue and Customs and other agencies will be able to apply to the high
... read more at: http://www.vanguardngr.com/2016/10/tackling-corruption-together/