Home Business News £114m of cryptocurrency seized by police over money laundering

£114m of cryptocurrency seized by police over money laundering

by LLB Reporter
25th Jun 21 10:05 am

£114m of Bitcoin has been seized by Scotland Yard as part of an investigation over money laundering offences.

This is more than double the amount which was siezed in 2020 by the Metropolitan Police which was then the largest confiscation in the UK.

Deputy Assistant Commissioner Graham McNulty said, “Every single part of the Met is working to reduce violence on the streets of London as an absolute priority, this includes our financial investigators.

“There is an inherent link between money and violence.

“Cash remains king, but as technology and online platforms develop, some are moving to more sophisticated methods of laundering their profits.

“But we have highly trained officers and specialist units working day and night to remain one step ahead.”

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