The British police proceeded with the confiscation-record cryptocurrencies 29 294 million ($ 408 million) in a money laundering investigation after organized crime gangs turned to cryptocurrencies to launder proceeds of illicit activities.
London police announced today that they have seized 180 million pounds of unspecified cryptocurrency while Less than three weeks have passed since the seizure of 11 114 million on 24 June in the context of a money laundering investigation.
“While cash remains the king of crime, as digital platforms evolve we see more and more organized criminals using cryptocurrencies to launder dirty money,” said Deputy Chief of Police Graham McNally.
“Today’s seizure is another milestone in this investigation, which will continue for months as we approach those at the center of this suspected money laundering operation,” said Officer Joe Ryan.
As cryptocurrencies are largely anonymous and easy to use, some of the larger organized crime groups are turning to them as a means of laundering money and staying one step ahead of the police, tax authorities and security forces.
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