London Money Laundering Raid Nets Almost $250 Million in Bitcoin
Patricia Claus, 13 July 2021
London’s Metropolitan police seized nearly £180 million ($248,993,100) of bitcoin on Saturday as part of a money laundering investigation.
The seizure, announced on Tuesday, is only the latest in a string of such raids, including the confiscation of £114 million ($157,567,950) of the cryptocurrency last month. Police spokesmen told the press that criminal organizations were using cryptocurrency, including bitcoin, as a way to launder their ill-gotten takings.
These most recent raids occurred after intelligence was passed on to the police regarding the transferring of assets belonging to the criminals.
London’s Metropolitan police deputy assistant commissioner Graham McNulty stated “While cash still remains king in the criminal word, as digital platforms develop we’re increasingly seeing organised criminals using cryptocurrency to launder their dirty money.”
