Question to the Home Office:

To ask the Secretary of State for the Home Department, what powers the police have to obtain information on the beneficial ownership of companies when considering whether to impose restraint orders or confiscation orders under the Proceeds of Crime Act 2002.

As part of a criminal investigation, police can also conduct a parallel confiscation investigation using the powers in the Proceeds of Crime Act 2002. The purpose of a confiscation investigation is to obtain a confiscation order following the offender’s conviction. As part of that process, and in order to preserve assets for confiscation, a restraint order can be obtained at any point during the criminal investigation or proceeding to effectively freeze those assets. The powers provided by Part 8 of the Proceeds of Crime Act 2002 for a confiscation investigation are a production order, a search and seizure warrant, a disclosure order, a customer information order and an account monitoring order. A disclosure order effectively empowers an investigator to demand information and evidence, including by way of an interview. A customer information order requires any financial institution to provide information they possess on an individual or business including details of any customer due diligence information.