Report: Illegal crypto transactions in the UK amount to $5.1 billion per year
According to a report by the UK's National Crime Agency (NCA), illegal cryptocurrency transactions related to the UK are estimated to reach as high as $5.1 billion per year. The report states that international controllers of networks use various methods to provide money laundering services for criminals. This links the criminal proceeds generated in the UK with transnational network crimes and affects victims around the world. The NCA states that cryptocurrencies are increasingly being used to launder cash and other non-digital criminal proceeds, obtained through constantly evolving network crimes, including through malware and ransomware.
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