What Act established the Assets Recovery Agency?

Prepare for the CII Certificate in Insurance - Insurance, Legal and Regulatory (IF1) Exam with interactive questions. Each question comes with hints and detailed explanations. Equip yourself for success!

The establishment of the Assets Recovery Agency is associated with the Proceeds of Crime Act 2002. This Act was significant in enabling law enforcement agencies to recover the proceeds of crime by allowing them to seize assets obtained through illegal activities or that are a product of crime. It lays down the framework for civil recovery, which allows authorities to pursue civil proceedings against individuals to recover assets without needing to secure a criminal conviction first. This Act reflects the UK government’s commitment to tackling serious crime and organized crime by making it more difficult for criminals to benefit from their illegal activities.

With the other options, while they are all notable legislation in their respective contexts, they do not pertain specifically to the establishment of the Assets Recovery Agency. For example, the Criminal Justice Act 1993 relates primarily to criminal justice procedures, the Data Protection Act 2018 governs data privacy and protection, and the Serious Crimes Act 2007 focuses on specific serious offenses and doesn't establish the Assets Recovery Agency. Thus, the Proceeds of Crime Act 2002 is the correct answer as it directly relates to the agency's creation and purpose.

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