Just weeks after a record amount of crypto seized by authorities in the UK, the Metropolitan Police have topped that amount in taking possession of cryptocurrency said to amount to almost £180 million.
According to Scotland Yard, the seizures were made by detective from the Met’s Economic Crime Command on the back of intelligence received about the transfer of criminal assets and is part of an ongoing investigation into international money laundering. Reportedly, a 39-year-old woman was arrested on 24 June on suspicion of money laundering offenses and subsequently released on bail. The same woman was interviewed under caution in relation to the discovery of the near £180 million worth of cryptocurrency on Saturday 10 July. The police state that she has been bailed to a date in late July.
Spokesperson Detective Constable Joe Ryan said their investigation since the initial seizuer 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.”
Graham McNulty, Deputy Assistant Commissioner, noted that while cash remains king in the criminal world organized crime is increasingly using crypto to launder money:
“Whilst some years ago this was fairly unchartered territory, we now have highly trained officers and specialist units working hard in this space to remain one step ahead of those using it for illicit gain. 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.”