The following Corporate Crime guidance note provides comprehensive and up to date legal information covering:
A customer information order requires a financial institution to, on being required to do so by notice in writing given by an appropriate officer, provide any such ‘customer information’ as it has relating to the person specified in the application for the order. Proceeds of Crime Act 2002, s 363(5)
The information must provided to an appropriate officer in such manner, and at or by such time, as that officer requires, for more information, see below: Effect of an order.POCA 2002, s 363(6)
For these purposes, a financial institution is a person who carries on business on the regulated sector, or, who ceases to carry on a business in the regulated sector. The order may require all such institutions, or a selection of them, to comply with the order. POCA 2002, ss 363(4), 416(4), (5)
The scheme applies to confiscation, civil recovery, exploitation proceeds and money laundering investigations but not (with effect from 16 April 2018) detained cash investigations detained property investigations, or frozen funds investigations. POCA 2002, s 363(1A), (2)Criminal Finances Act 2017, s 53, Sch 5, paras 17, 52The Criminal Finances Act 2017 (Commencement No. 4) Regulations 2018, SI 2018/78, r 5(3)
For the purposes of customer information orders in relation to money laundering investigations, 'money laundering' is extended beyond the main offences under sections
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