Author Nick: PatriciaConnor
Name: Patricia Connor
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David Blunkett introduced the Proceeds of Crime Bill on 18 October 2001 as Home Secretary of the House of Commons. The bill was passed on 24 July 2002 by Royal Assent. It recovers property that criminals have in their possession due to criminal activity and is making progress.
The field of accounting that concentrates on establishing and presenting legal testimony is referred to as forensic accounting. Professionals in this field will be presented with a range of assignments, including theft, fraud, and money laundering. They may also be called upon to determine the actual value of a business or to provide a fair computation of any losses it may have suffered. In general, they look not only at what has occurred but how it happened and who is responsible.
There are certain crimes that are committed for personal gain in which money or items of value are taken or obtained criminally. These items or money are classed as the proceeds of crime and they are not the legal property of the criminal. In order to return items and money to their owner they need to be obtained, but how is this done?