CIVIL DISCLOSURE AND FREEZING ORDERS: IMPACT OF US EXTRATERRITORIALITY PROVISIONS
| Published date | 01 January 1995 |
| Pages | 55-61 |
| Date | 01 January 1995 |
| DOI | https://doi.org/10.1108/eb024827 |
| Author | ROWAN BOSWORTH‐DAVIES |
| Subject Matter | Accounting & finance |
CIVIL DISCLOSURE AND FREEZING ORDERS: IMPACT OF US
EXTRATERRITORIALITY PROVISIONS
Received: 8th November, 1994
ROWAN BOSWORTH-DAVIES
ROWAN BOSWORTH-DAVIES
AFTER READING
FOR
THE
BAR
AT THE
MIDDLE
TEMPLE,
THE
AUTHOR
JOINED
THE
MAGISTRATES
COURTS SERVICE AS A CLERK
TO
THE
JUSTICES
IN
1971.
TEN YEARS SERVICE
IN
THE METROPOLITAN POLICE, WHERE, AS A
FRAUD
OFFICER, HE STUDIED AT THE
SECURITIES
AND EXCHANGE COMMISSION,
WAS
FOLLOWED BY EMPLOYMENT AS
INVESTIGATIONS
MANAGER AT FIMBRA,
WHERE
HE OBTAINED FIRST-HAND
EXPERIENCE
OF THE TIMID BRITISH
REGULATION
PHILOSOPHY,
A FACT WHICH
LED
HIM TO ACCEPT THE POST OF FRAUD AND
FINANCIAL
INVESTIGATIONS
MANAGER AT
RICHARDS
BUTLER, AN INTERNATIONAL LAW
FIRM
IN 1988. IN 1993
HE
JOINED
TITMUSS
SAINER
DECHERT IN THEIR SPECIALIST
FINANCIAL
INVESTIGATIONS
UNIT. A MASTER
OF
ARTS FROM EXETER UNIVERSITY, HE IS AN
HONORARY
RESEARCH FELLOW IN ITS CENTRE
FOR
POLICE AND
CRIMINAL
JUSTICE STUDIES
AND
HAS PUBLISHED WIDELY ON THE SUBJECT
OF
REGULATION AND FINANCIAL FRAUD.
ROWAN
BOSWORTH-DAVIES
IS THE MANAGING
EDITOR
OF
JOURNAL
OF
FINANCIAL
REGULATION
AND COMPLIANCE.
ABSTRACT
The author
examines
the
implications
of
the extraterritoriality provisions contained
within the
US Money
Laundering
Control
Act 1986 and
considers
the impact that
they have on financial
practitioners
and
those
who do
business,
either in
the
United
States or with United States
citizens.
'The impact of our civil forfeiture
law permits the government to
seize property without probable
cause, institute a civil forfeiture
proceeding, and then use civil
discovery as a means of accessing
information necessary to effect a
forfeiture. Because the final prob-
able-cause determination rests on
information presented in the for-
feiture action, the risk to claim-
ants of being deprived of their
property is extremely high.
Despite this apparent unfairness,
the precedents of this court and
the Supreme Court, as well as the
55
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