UK Backs Money Laundering Crackdown With $676M and 500 New Officers

Key takeaways Powered by Yahoo Scout. Yahoo is using AI to generate key points from this article. This means the info may not always match what’s in the article. Reporting mistakes helps us improve the experience. Britain is recruiting 500 officers to trace and seize criminal money, backed by £500 million over three years, to combat money laundering and asset recovery. The National Crime Agency plans a campaign of arrests and cash seizures against networks enabling ransomware groups, hostile states, and the class A drugs trade, with 119 suspected launderers arrested and over £25 million seized in cash and crypto in under a year. The NCA aims to expand its Operation Destabilise model to target other networks using crypto assets, as part of its efforts to combat financial crime and embrace new technologies used by criminals.