Source · Select Committees · Foreign Affairs Committee
Recommendation 11
11
Accepted
Paragraph: 27
We are concerned the Government’s recent rhetoric about action on “dirty” Russian money implies that...
Recommendation
We are concerned the Government’s recent rhetoric about action on “dirty” Russian money implies that the current raft of sanctions is a part solution to the UK’s problem of kleptocratic wealth. We welcome the issuance of sanctions, which have frozen the assets of a growing number of oligarchs for supporting, or receiving benefit from, the Russian Government. But this should not become a form of “criminal justice light” where assets are held indefinitely without subsequent prosecution, nor should it become a form of expropriation without due process. We recommend that the relevant law enforcement agencies now take advantage of the time these asset freezes provide to consider if there is a criminal case for asset seizure.
Government Response Summary
The government notes the recommendation and states that law enforcement agencies are currently able to freeze and seize foreign assets with links to criminality or unlawful conduct by using powers granted under the Proceeds of Crime Act 2002.
Paragraph Reference:
27
Government Response
Accepted
HM Government
Accepted
We note the recommendation on asset freezes and seizures. The designation of persons and subsequent freezing of their assets linked to persons or entities does not in itself provide a basis for seizure. However, law enforcement agencies are currently able to freeze and seize foreign assets with links to criminality or unlawful conduct, by making use of powers granted under the Proceeds of Crime Act 2002. Where there is evidence of criminality, Government will ensure appropriate action is taken.