Criminal Finance Act, Politicians immune

[s2art]

In what looks like a cosy stitch up, parliament passed an act that makes politicians immune from the Unexplained Wealth Order, in the UK and EEA.

Some real back scratching going on here.

[Jasandjules]

Some pigs are more equal than others.

[ralphrj]

s2art said:

In what looks like a cosy stitch up, parliament passed an act that makes politicians immune from the Unexplained Wealth Order, in the UK and EEA.

Some real back scratching going on here.

Source?

[s2art]

ralphrj said:

s2art said:

In what looks like a cosy stitch up, parliament passed an act that makes politicians immune from the Unexplained Wealth Order, in the UK and EEA.

Some real back scratching going on here.

Source?

http://www.legislation.gov.uk/ukpga/2017/22/part/1/chapter/1/crossheading/unexplained-wealth-orders-england-and-wales-and-northern-ireland/enacted

see 7a

[Ziplobb]

have a look at the Brexit Wildral Agreement that was prosposed - it guarantees immunity from ANY prosecution for members of the European Commission and employees who reside in the UK after any leaving has happened

[CambsBill]

I'd say you've misread that. Clause 7a clarifies who is a politically exposed person to which clause 4a would apply. 4a doesn't exclude politically exposed persons, it adds them as a specific category alongside people suspected of involvement in serious crime.

[eharding]

CambsBill said:

I'd say you've misread that. Clause 7a clarifies who is a politically exposed person to which clause 4a would apply. 4a doesn't exclude politically exposed persons, it adds them as a specific category alongside people suspected of involvement in serious crime.

That's my reading of it as well. Perhaps the OP could clarify?

[s2art]

CambsBill said:

I'd say you've misread that. Clause 7a clarifies who is a politically exposed person to which clause 4a would apply. 4a doesn't exclude politically exposed persons, it adds them as a specific category alongside people suspected of involvement in serious crime.

Maybe, but where it defines a Politically exposed Person;

an individual who is, or has been, entrusted with prominent public functions by an international organisation or by a State other than the United Kingdom or another EEA State,



It seems to exclude those from the UK or EEA. and only applies outside those areas. So if (say) Junker has not been found guilty of serious crime, or associated with, then the fact he has bought Neuschwanstein Castle (if he had) would be insufficient .

[Camelot1971]

Anyone can be subject to a UBO if you meet the criteria in the legislation (4b), including UK and EU politicians. PEP guidance was recently changed as banks were conducting enhanced due diligence (EDD) on what, for the most part, are low risk EU politicians, where they should have been assessing the actual risk of money laundering. For politicians outside the EU, the risks of corruption are generally much higher, hence all foreign (non EU) PEPs requiring EDD.

[ralphrj]

s2art said:

CambsBill said:

I'd say you've misread that. Clause 7a clarifies who is a politically exposed person to which clause 4a would apply. 4a doesn't exclude politically exposed persons, it adds them as a specific category alongside people suspected of involvement in serious crime.

Maybe, but where it defines a Politically exposed Person;

an individual who is, or has been, entrusted with prominent public functions by an international organisation or by a State other than the United Kingdom or another EEA State,



It seems to exclude those from the UK or EEA. and only applies outside those areas. So if (say) Junker has not been found guilty of serious crime, or associated with, then the fact he has bought Neuschwanstein Castle (if he had) would be insufficient .

You haven't understood the purpose of the Criminal Finances Act 2017.

The CFA 2017 is an amendment to the Proceeds of Crime Act 2002 to try and prevent corrupt money being brought into the UK.

The CFA 2017 extends the law to cover politicians (or people closely associated with them) from outside the UK or EEA.

UK and EEA politicians were already covered by the POCA 2002.