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 expertise and crypto property” that might hurt “the U.Ok.’s economic system and establishments,” mentioned the company.
NCA Seizes Crypto Price $33 Million
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 danger to the U.Ok.,” its web site states.
The report particulars that between April 1, 2021, and March 31, 2022, the NCA seized property price £59.79 million, stating:
Seized property held by the NCA as at 31 March 2022 consisted of £59.79m … in money, motor autos and different valuables suspected of being derived from felony 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 in the yr 2020-21. The company didn’t specify which cryptocurrencies it seized.
The breakdown of the NCA’s seized property. Supply: NCA
The NCA additionally famous in the report that “Criminals more and more exploited monetary expertise 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 pressured to maneuver swiftly to try to stem the usage of these cryptocurrencies in monetary crimes. The dearth of regulatory oversight round cryptocurrencies makes them enticing for criminals looking for to maneuver funds around the globe.”
Different British regulators have additionally seized cryptocurrencies over time. In January, 12 U.Ok. police forces introduced that they seized cryptocurrency price roughly £322 million in felony investigations in the final 5 years. In July final yr, the British Metropolitan Police mentioned it seized £180 million in cryptocurrency as a part of a cash laundering investigation.
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