18 January 2007
in brief
The Assets Recovery Agency (ARA)—set up in 2003 by the government with the aim of toppling criminal enterprises through the clawing back of criminal assets—is to be shut down after notching up huge losses. In a written ministerial statement last week, the Home Office announced that the agency will be swallowed up by the Serious Organised Crime Agency. Prosecutors will also be given the power to launch civil recovery action under the Proceeds of Crime Act 2002. Tony Blair promised the ARA would target hardened criminals and double the money seized by police and HM Revenue & Customs, but it has struggled to break even.
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