03 January 2023
The Home Office is consulting on extending the Proceeds of Crime Act 2002's (POCA 2002) investigative powers to staff at five organisations―the Security Industry Authority, Food Standards Agency, Environment Agency, Public Sector Fraud Authority and Department for Work and Pensions.
POCA 2002 grants certain organisations powers to find and recover unlawfully held assets. Currently, these five agencies rely on other agencies with financial investigation powers, such as the police, HM Revenue & Customs, immigration officers, accredited financial investigators and the National Crime Agency.
Under the consultation on changes to bodies granted investigatory and other powers under the POCA 2002, the five agencies would be given certain POCA powers to conduct confiscation investigations, detained cash investigations, detained property investigations, frozen funds investigations, money laundering investigations, money laundering investigations, and cryptoasset investigations.
The consultation closes on 1 March 2023.
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