Unexplained Wealth Orders: How This New Enforcement Tool Can Impact on Reporting Entities

Monday, June 17, 2024
1:00 - 2:00 PM EST

Unexplained Wealth Orders (UWOs) are becoming a popular tool for many countries around the world in the fight against money laundering and organized crime. In March 2023, British Columbia became the first province in Canada to introduce UWOs under the British Columbia Civil Forfeiture Act. Manitoba is currently considering following British Columbia's lead.

The tool allows governments to force individuals tied to crime or money laundering to explain how they obtained specified assets. Assets that cannot be shown to be legitimately obtained may be forfeited. UWOs require the cooperation of a wide variety of organizations, including financial institutions, law enforcement, and government agencies, to operate effectively.

This webcast seminar will explain UWOs in detail, provide overviews of the cases currently before the courts that are utilizing the tool, and describe ways in which information may be requested when UWOs are issued.

View the webcast seminar brochure