🤑 It doesn’t get more affordable. Grab this 60% OFF Black Friday offer before it disappears…CLAIM SALE

$33 Million Cryptocurrency Seizes UK's National Crime Agency

Published 28/07/2022, 16:22
© Reuters.  $33 Million Cryptocurrency Seizes UK's National Crime Agency

The British Nationwide Crime Company (NCA) printed its 2021-22 annual report this week. The NCA “leads the UK’s combat to cut back critical and arranged crime, defending the general public by focusing on and prosecuting these criminals who pose the best danger to the UK”, its website states.

The report particulars that between April 1, 2021, and March 31, 2022, the NCA seized belongings price £59.79 million, indicating.

Property seized within the NCA’s possession as at 31 March 2022 consisted of £59.79m… in money, motor autos and different valuables suspected to be derived from prison exercise.

The NCA also noted in the report that “Criminals increasingly exploited financial technology and crypto assets” that could harm “the U.K.’s economy and institutions.”

Morgan Heavener, a partner at consultancy Accuracy, commented: “The NCA has been forced to move swiftly to try and stem the use of these cryptocurrencies in financial crimes. The lack of regulatory oversight around cryptocurrencies makes them attractive for criminals seeking to move funds around the world.”

The NCA further noted that the assets seized included cryptocurrencies worth £26.894 million ($32.75 million). However, the agency made no mention of which cryptocurrency it seized.

In the report, the NCA also stated that criminals are increasingly leveraging financial technology and crypto assets to undermine the UK economy and institutions.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.