Daily Management Review

UK police seizes record £294m in cryptocurrency


Police in the UK are conducting a massive operation to uncover funds of criminals trying to launder their money through cryptocurrencies.

tbz.foto via flickr
tbz.foto via flickr
In one investigation lasting several months, £294 million in cryptocurrencies was seized.
As noted in a London Police report, a few weeks ago, the Economic Crime Unit managed to arrest a 39-year-old woman suspected of involvement in money laundering.
That's when officers from the Metropolitan Police Unit seized £114 million in various cryptocurrencies, a record for UK law enforcement. Today's press release reports another £180 million seized as part of the same special operation. However, the investigation continues.
"Proceeds of crime are laundered in a variety of ways," said Deputy Assistant Commissioner, "…as digital platforms evolve we are increasingly seeing organised criminals using cryptocurrency to launder their dirty money. "
source: ft.com