UK Crime Agency Warns of 'Innovative Use' of Crypto by Launderers
Britain’s National Economic Crime Centre says criminals are increasingly using crypto asset products to evade detection and move illicit funds at scale, alongside “novel and traditional” laundering methods. Many organized crime groups now outsource laundering to specialist networks, while AI is also being used for synthetic identities and bank automation attacks. Cryptoassets have risen to third place among UK economic crime priorities, ahead of criminal cash and money mules, and the agency says it is building a more proactive, intelligence-led crypto capability. Recent enforcement includes Operation Atlantic, which identified 20,000 approval-phishing victims and froze $12 million, and Operation Destabilise, which has led to 129 arrests and over £25 million seized. The agency plans to extend that model to other high-harm laundering networks. It also highlighted research arguing against banning privacy-enhancing crypto tools, saying restrictions could push illicit activity to unregulated services.
