Money laundering - General Qs Flashcards
1
Q
Freezing assets is slow
A
Currently, investigators have 7 days within which to refuse consent to a suspicious financial transaction.
If law enforcement agencies refuse consent, they have a period of 31 days to obtain a court order to freeze the account by meeting a legal threshold of establishing that there is ‘a reasonable cause to suspect’ that the account contains the proceeds of crime.
This timeframe provides insufficient time in which to investigate complex corruption cases,
