International law firm Baker & McKenzie has warned that UK government agencies’ ability to now use Unexplained Wealth Orders (UWO) against individuals to provide explanations where the assets they own come from is a “clear wake-up call to ensure international asset holding structures meet UK standards and these should be reviewed as a priority to ensure any questions can be answered.”

UWOs have been mooted in recent days as a possible weapon in the diplomatic war in the wake of the recent Russian spy scandal in Salisbury, and since 31 January 2018, the National Crime Agency, HMRC and relevant UK enforcement au...