The British Nationwide Crime Company (NCA) has revealed that it has seized £26.894 million ($32.75 million) in cryptocurrency. “Criminals more and more exploited monetary know-how and crypto property” that might hurt “the U.Ok.’s economic system and establishments,” mentioned the company.
The British Nationwide Crime Company (NCA) revealed its annual report 2021-22 this week. The NCA “leads the U.Ok.’s combat to chop critical and arranged crime, defending the general public by focusing on and pursuing these criminals who pose the best threat to the U.Ok.,” its web site states.
The report particulars that between April 1, 2021, and March 31, 2022, the NCA seized property value £59.79 million, stating:
Seized property held by the NCA as at 31 March 2022 consisted of £59.79m … in money, motor automobiles and different valuables suspected of being derived from legal exercise.
The NCA additionally revealed that £26.894 million ($32.75 million) in cryptocurrency was among the many property seized. In distinction, no cryptocurrency was seized within the 12 months 2020-21. The company didn’t specify which cryptocurrencies it seized.
The NCA additionally famous within the report that “Criminals more and more exploited monetary know-how and crypto property” that might hurt “the U.Ok.’s economic system and establishments.”
Morgan Heavener, a associate at consultancy Accuracy, commented: “The NCA has been compelled to maneuver swiftly to try to stem using these cryptocurrencies in monetary crimes. The dearth of regulatory oversight round cryptocurrencies makes them engaging for criminals looking for to maneuver funds all over the world.”
Different British regulators have additionally seized cryptocurrencies over time. In January, 12 U.Ok. police forces introduced that they seized cryptocurrency value roughly £322 million in legal investigations within the final 5 years. In July final 12 months, the British Metropolitan Police mentioned it seized £180 million in cryptocurrency as a part of a cash laundering investigation.
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