The Met Police have made the UK’s largest cryptocurrency seizure, taking nearly £180m in connection with suspected money laundering.
Detectives from the Met’s Economic Crime Command seized the digital currency after receiving intelligence on the transfer of criminal assets. This move is part of an investigation into international money laundering.
Additionally, a 39-year-old woman was arrested on suspicion of money laundering. The woman has since been released on bail to a date in late July.
This latest cryptocurrency seizure breaks a record the Met set last week, when it confiscated £114m.
Detective constable Joe Ryan said, “Less than a month ago we successfully seized £114million in cryptocurrency. Our investigation since then has been complex and wide-ranging. We have worked hard to trace this money and identify the criminality it may be linked to. Today’s seizure is another significant landmark in this investigation which will continue for months to come as we hone in on those at the centre of this suspected money laundering operation.”
Speaking on the case, deputy assistant Commissioner Graham McNulty stated that cryptocurrency is increasingly being used by criminal organisations to launder money. The Met now has highly trained officers and specialist units to stay ahead of criminals.
McNulty added, “The detectives on this case have worked tirelessly and meticulously to trace millions of pounds worth of cryptocurrency suspected of being linked to criminality and now being laundered to hide the trail. Those linked to this money are clearly working hard to hide it. Our investigation will stop at nothing to disrupt the transfer and identify those involved.”
The Met is continuing its investigation.
Copyright © 2021 FinTech Global