The document, titled “Anti-money laundering and countering the financing of terrorism,” notes that during 2022-2023, the UK Financial Conduct Authority (FCA) employed dozens of financial fraud specialists. Most of them were engaged in checking the activities of cryptocurrency companies.
“Based on its risk assessment, the FCA believes that crypto asset management firms remain particularly vulnerable to financial crime. They pose the greatest risk of being used for money laundering,” the report says.
The UK Treasury said that several other supervisory departments of the department have opened 375 cases related to financial fraud, including 95 related to virtual assets.
Previously, UK law enforcement agencies received expanded powers to confiscate, freeze and burn digital assets used for criminal purposes.
Source: Bits
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