ENGLAND & WALES Law and Practice Contributed by: John Kaye and Piers Desser, Carson Kaye
frameworks, evidential strength, and public interest considerations. For prosecution, the CPS applies the Full Code Test, requiring both a realistic prospect of conviction and that prosecution is in the public inter - est. The SFO applies a similar test but may also con - sider broader factors such as case complexity and strategic impact. As a result, not all allegations lead to formal investi - gation or prosecution, with agencies exercising sub - stantial judgment in allocating limited enforcement resources to cases with the greatest seriousness, Investigatory powers in England and Wales are extensive and primarily statute-based, with different regimes available to police, prosecutors and regula - tors depending on the type of financial crime. Compelling Documents and Information Authorities can compel production of documents using statutory notices. The SFO may issue Section 2 notices under the Criminal Justice Act 1987 (CJA 1987), requiring individuals or companies to produce documents or attend interviews on pain of criminal sanction for non-compliance. The FCA has similar powers under the FSMA. The NCA and police may obtain production orders under the Police and Crimi - nal Evidence Act 1984 (PACE) or through court-issued disclosure orders in fraud and confiscation investiga - tions. Searches and Seizures Law enforcement may obtain search warrants under PACE, allowing entry, search and seizure of material relevant to an investigation. Warrants can cover prem - ises, business records and digital devices. Regula - tors such as the FCA also have warrant-based entry powers in certain circumstances, usually with judicial authorisation. Interviews of Suspects and Witnesses Police interviews are conducted under PACE, with suspects entitled to legal advice and procedural safe - guards. The SFO can compel attendance for interview under Section 2 notices, although suspects cannot be compelled to answer questions where this would vio - harm, or systemic significance. 2.3 Investigatory Powers
late the privilege against self-incrimination. Witnesses may be required to attend and provide information under compulsion, subject to limited protections. Tracing, Freezing and Confiscation of Assets Authorities can obtain restraint orders and freezing orders under the POCA to prevent dissipation of sus - pected criminal property, including bank accounts, securities and increasingly crypto-assets held on exchanges or in identifiable wallets. Following con - viction or in civil recovery proceedings, courts can impose confiscation orders or civil recovery orders to deprive individuals of the benefit of criminal con - duct. Crypto-assets are treated as property for POCA purposes and can be restrained, seized and realised, often with specialist input from the NCA’s crypto-asset recovery teams. 2.4 Use of Technology and Data UK financial crime enforcement increasingly relies on data driven and technology enabled investigation. The NCA, SFO and FCA use advanced data analytics to identify patterns of suspicious transactions, net - work links and anomalies in large datasets. The FCA in particular uses “SupTech” tools for market surveil - lance, including automated monitoring of trading data to detect potential market abuse. Law enforcement agencies also increasingly deploy AI-assisted review tools in large disclosure exercises to prioritise relevant evidence. Blockchain analytics is now a core capability in cryp - to-related investigations. The NCA and police use specialist software to trace transactions across pub - lic ledgers, identify wallet clustering, and link crypto movements to exchange accounts subject to UK juris - diction. This is frequently used in money laundering and ransomware cases. However, use of such technologies is subject to strict legal constraints. Investigatory activity must comply with the Data Protection Act 2018, the UK General Data Protection Regulation (GDPR) and principles of necessity and proportionality under the Human Rights Act 1998 (Article 8 privacy rights). Surveillance and data acquisition may also require authorisation under the Investigatory Powers Act 2016. Regulatory guid -
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