The growing use of cryptocurrency to launder black money in London has reached a new high, with $ 250 million of undisclosed cryptocurrency captured by UK police today. The cryptocurrency money laundering racket is growing at an exponential rate.
The latest dirty crypto money scam was caught less than a month ago on the 24the June, with around $ 158 million in illegal money in the form of cryptocurrency.
That $ 250 million was the largest amount of money laundered in the form of cryptocurrency seized by UK police, and the amount appears to increase with each follow-up seizure.
“As cash remains king in the criminal world, as digital platforms develop we are seeing more and more organized criminals using cryptocurrency to launder their dirty money, âsaid Graham McNulty, deputy. deputy commissioner of the metropolitan police. Reuters Tuesday.
UK police fairly consistent in arresting money laundering rackets
British police have regularly captured several money laundering rackets as part of their investigation into the illegal money laundering mission.
The suspect who was arrested for the old $ 158 million trips, a 39-year-old woman, has been arraigned again for the $ 250 million crypto money laundering racketeering. However, the London Police Service has yet to make any official statement on any relevant leads or findings from their investigation. Nonetheless, the department finds itself closer to final liquidation as more rackets are discovered and seized.
“Today’s seizure is another important milestone in this investigation which will continue for months on end as we move closer to those at the center of this alleged money laundering operation,” Detective Constable Joe said. Ryan. Reuters.
Cryptocurrency transactions are harder to trace and easier to complete, making it easy for dangerous criminals to launder money illegally obtained from any corner of the globe. One of the reasons crypto has come under intense scrutiny in many countries has to do with the criminal potential of a decentralized system.
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