You are here: Home - Uncategorized -

Government goes after the villains’ cash with new zeal

0
Written by:
24/05/2007

People could receive a share of recovered money if they blow the whistle on major fraud against the Government or its agencies.

The proposal forms part of a possible shake-up to the rules on seizing criminal profits and to put asset recovery at the heart of the criminal justice system. The aim is to double the money seized from criminals to £250m a year by 2010.

The news comes as the Asset Recovery Agency (ARA), set to be scrapped this year, aid it had met its targets for the first time. The Agency has been roundly criticised, especially in a report from the National Audit Office, for costing more to run than it recovered.

In 2007-07, the amount recovered was £15.9m, against its budget of £15.5m, and it froze criminal assets worth £73.6m.

“If we are going to make that kind of step-change, we have to mainstream this all across the law enforcement community,” said ARA director Alan McQuillan.

The ARA is being rolled into the Serious and Organised Crime Agency (Soca) – often called the UK’s FBI – a body which is putting financial investigators in every one of its operational teams and insists that tracking criminal assets will be a priority in each case it undertakes.

 

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Barclaycard set to charge a fee for no-spend customers

Barclaycard, the largest credit card in the UK with almost 10 million customers (15% of the market), is to charge...

Close