Police seize record $249 million of cryptocurrency in UK

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The confiscation is regarded as one of many largest globally, the Met Police mentioned, and comes simply weeks after police confiscated £114 million ($158 million) of cryptocurrency in June.

The seizures had been made by the drive’s financial crime command, after pursuing intelligence obtained concerning the switch of prison belongings, a press assertion mentioned Tuesday.

The seizures fashioned a part of an ongoing investigation into worldwide cash laundering.

Cryptocurrency is an all-digital cash system made up of “cash” or “tokens” which can be managed by a decentralized ledger.

Police haven’t specified which cryptocurrency was seized.

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A 39-year-old lady was arrested on June 24 on suspicion of cash laundering offenses, and was launched on bail, police mentioned.

She was interviewed beneath warning in relation to the newest discovery of almost £180 million on July 10 and has been launched on bail till later this month, the drive added.

Detective constable Joe Ryan mentioned this month’s seizure was a “important landmark” in an ongoing operation.

“Lower than a month in the past we efficiently seized £114 million in cryptocurrency. Our investigation since then has been complicated and wide-ranging,” he mentioned.

“We’ve labored laborious to hint this cash and determine the criminality it might be linked to. At the moment’s seizure is one other important landmark on this investigation which is able to proceed for months to come back as we hone in on these on the centre of this suspected cash laundering operation,” Ryan added.

Deputy assistant commissioner Graham McNult added within the assertion: “Proceeds of crime are laundered in many various methods. Whereas money nonetheless stays king within the prison phrase, as digital platforms develop we’re more and more seeing organised criminals utilizing cryptocurrency to launder their soiled cash.

“While some years in the past this was pretty unchartered territory, we now have extremely educated officers and specialist models working laborious on this house to stay one step forward of these utilizing it for illicit achieve.”

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