UK Crime Agency Elevates Crypto to Top Priority
The UK's National Economic Crime Centre has elevated crypto to its third economic-crime priority. In its annual report, the agency stated that cryptoassets are a key target for money laundering and other illicit activities.
Crypto now ranks below only professional enablers, corrupt lawyers and accountants, and politically exposed persons in the centre's list of nine economic-crime priorities. Cash and money mules used for criminal activity rank below crypto on the list.
The NECC noted that criminals are making innovative use of crypto asset products to evade detection and move illicit value at scale. The agency also highlighted its plans to develop a more proactive and intelligence-led crypto capability, with sanctions evasion and ransomware payments identified as areas of focus.