Detectives from the Economic Crime Command of the UK’s Metropolitan Police have seized cryptocurrency worth £114 million ($158m) in an ongoing money laundering investigation.
Due to rapid changes in digital technology, financial criminals have started employing sophisticated modes of money laundering. Cryptocurrency platforms have become one such sophisticated mode of committing financial crimes.
The Metropolitan Police commenced their operation after receiving intelligence about the transfer of criminal assets. This has become the largest cryptocurrency seizure in the UK, and one of the largest in the world.
Source: Metropolitan Police, UK