The AML Watchman

The world of AML has changed out of all recognition over the last decade. Old crimes are subject to new laws, professional firms and financial institutions are subject to criminal sanctions and regulatory review as never before. Yet the individual client has virtually no say over what various national governments and their competing departments are doing to their rights and liberties in their name. This blog attempts to address the dilemma posed by the question “Quis custōdiet ipsōs custōdēs?”

Showing posts with label Proceeds of Crime Act 2002. Show all posts

Thursday, 17 December 2009

I'd welcome your thoughts on "Operation Rize"

Last year the Metropolitan Police undertook a co-ordinated series of raids against three London Safety Deposit Box businesses under the code name "Operation Rize".

I think that this operation may well become a turning point in how, why and where the Proceeds of Crime Act is used in the UK. The link to an excellent article is below.

http://www.dailymail.co.uk/home/moslive/article-1222777/The-raid-rocked-Met-Why-gun-drugs-op-6-717-safety-deposit-boxes-cost-taxpayer-fortune.html

However, before I sound off on the subject, I'd welcome your thoughts on Operation Rize. Was it, from your point of view a success or an overreaction? Was it exactly what POCA was designed to do or was it an abuse of process?

The floor is yours.