Kate McMahon has contributed a chapter to the 2021 FraudNet Global Report, International Developments and Perspectives in the field of Fraud, Financial Crime and Asset Recovery. The inaugural report draws upon the collective knowledge and experience-driven insights of its members and Strategic Partners – all leaders in their interrelated fields of practice and who are at the forefront of some of the world’s most high-profile, legally impactful and sensitive asset recovery cases involving fraud and related misconduct. The Report showcases thought-pieces, briefings and analyses from across the globe. Its aims are to strengthen the research and intellectual arm of the world’s leading asset recovery lawyers’ network and to provide contemporary insight to existing and potential clients about some of the most pertinent issues facing this field and the type of subjects the Members and Strategic partners regularly encounter in their work.
Kate’s chapter features in Part 1: Criminal and Civil Asset Recovery Initiatives and is titled “Asset Recovery Initiatives – A New Toolbox for Prosecutors”. Kate discusses recent developments in English law regarding suspicious wealth and recovering the proceeds of crime. By reference to various new statutory powers, including Account Freezing Orders and Unexplained Wealth Orders, set against the backdrop of the U.K.’s proceeds of crime framework, Kate discusses how these new tools have been applied in English cases and reviews both their effectiveness and some of the concerns associated with them. Kate was assisted by Associates Mai Holdom and Camilla Turner.
FraudNet is an international network of independent lawyers who are the leading civil asset recovery specialists in each country. FraudNet’s membership extends to every continent and the world’s major economies, as well as leading offshore wealth havens that have complex bank secrecy laws and institutions where the proceeds of fraud often are hidden.
Using sophisticated investigation and forensic tools and cutting-edge civil procedures, FraudNet members have recovered billions of dollars for victims of some of the world’s largest and most sophisticated global frauds involving insurance, commodities, banking, grand corruption and bankruptcy/insolvency. FraudNet members regularly act for government agencies and regulators in obtaining domestic and international recoveries for fraud victims.