UK is the country of ‘nominee shareholders’ and ‘nominee directors’. It is also the country of the ‘Unexplained Wealth Order’ (UWO). In practice it means every person has to prove the source of his or her property. That is an impossible assignment so hopefully this system is only applied to rogues.

Recently the first person faces losing UK property worth millions of pounds unless she can explain the source of her wealth, following a judgment at the high court, according to an article in The Guardian.

More information:

• Banker’s wife may lose property worth millions after UK court ruling, The Guardian, 3 October 2018
• Woman who spent £16m in Harrods revealed, BBC, 10 October 2018
• First Unexplained Wealth Order Challenge Treads Familiar Ground for Compliance Professionals, 5 October 2018
• Wikipedia explanation

Even lekker shoppen mag ook al niet meer… https://t.co/OJylrS5QGX

— Marlies van Eck (@MarliesEck) 10 oktober 2018

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Unexplained Wealth Order is de nieuwste mode in de misdaadbestrijding #AML – zullen we hier vast ook gaan krijgen (orig bericht via @MarliesEck ) https://t.co/aQRi8UmO1i

— Ellen Timmer (@Ellen_Timmer) 10 oktober 2018