UK TO FREEZE : CORRUPTION MONEY

LONDON : The National Crime Agency [NCA] stated on Wednesday that a  London court had approved the largest  granted Account Freezing Orders [AFOs] to date.

It also affirmed that that the police would recover these funds if investigators proved that the money generated is for unlawful use.

The NCA said it would maintain confidentiality and not provide any details that could identify the individuals related to the accounts.

AFOs and Unexplained Wealth Orders  [UWO] allow police to freeze assets until property owners account for their wealth.

They are part of toolbox introduced last year to help stem the tide of suspected black money washing through the country.

London has long attracted corrupt foreign money, especially from Russia, Nigeria, Pakistan, former Soviet States and Asia.

The NCA estimates that around 100 billion pounds of black money are moved through or into Britain each year. [Reuters]