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Record £180m worth of crypto seized by Met Police in money laundering probe

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A seizure of £180 million worth of cryptocurrency by London’s Met Police is the largest of its kind in the UK, following on from a £114 million haul in June.

The Met Police says a 39-year-old woman, arrested on suspicion of money laundering in the June raid, has been interviewed over the new seizure. She has since been bailed.

The Met didn’t specify the type of cryptocurrency that had been confiscated nor how it was seized.

In a statement, the Met’s deputy assistant commissioner, Graham McNulty, says: “Proceeds of crime are laundered in many different ways. While cash still remains king in the criminal world, as digital platforms develop we’re increasingly seeing organised criminals using cryptocurrency to launder their dirty money.”

McNulty adds: “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.”

He concludes that the Met’s investigation into the issue “will stop at nothing to disrupt the transfer and identify those involved”.

The Met’s economic crime command carried out the seizure after receiving intelligence about the transfer of criminal assets. The investigation is continuing.

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