UK National Economic Crime Centre: Crypto Assets Rank Third in Economic Crime Priorities

The UK National Economic Crime Centre (NCA) has stated in its annual report that crypto assets have become the third priority among the nine major economic crime concerns. Criminals are using crypto assets to evade detection and transfer illegal funds on a large scale. Many organized crime groups are outsourcing their money laundering operations to specialized networks. The agency indicated that it is developing more proactive intelligence-led capabilities for crypto investigations, but did not disclose specific details. The report mentioned that in March this year, the NCA, in collaboration with the U.S. Secret Service and companies like Coinbase, Binance, Kraken, and Tether, conducted "Operation Atlantic," which identified 20,000 authorized phishing victims and froze $12 million in assets. Additionally, "Operation Destabilise," targeting Russian money laundering networks, has led to the arrest of 129 individuals and the seizure of over £25 million in assets. The report also cited the Royal United Services Institute's view against a blanket ban on crypto privacy tools, arguing that such a move would be counterproductive.

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