UK, crackdown on money laundering violating Russia sanctions… seizes virtual assets and cash worth 32.6 million dollars

The UK government has seized virtual assets (cryptocurrency) and cash totaling 32.6 million dollars in the course of a crackdown on money laundering that violated sanctions against Russia.

On the 21st (local time), according to virtual asset-focused media Decrypt, in an international joint investigation led by the UK, 128 people involved in money laundering confirmed to have violated sanctions against Russia were arrested, and about 32.6 million dollars in virtual assets and cash among their assets were confiscated.

The UK government said virtual asset-based fund movements to evade Russia-related sanctions are increasing and that it plans to strengthen enforcement against financial crime going forward. This seizure is part of international measures to block illegal financial flows connected to sanctioned individuals and institutions.

The UK has recently tightened regulation and enforcement of virtual asset-based money laundering, and the Financial Conduct Authority (FCA) is also expanding sanctions and the scope of investigations into unauthorized virtual asset services.