A UK crime network reportedly utilized cryptocurrency to transfer drug money to Russia, according to the National Crime Agency (NCA). The NCA’s findings indicate that this network is valued at billions. The agency has highlighted the role of cryptocurrency in facilitating these illicit financial transactions. This method of money laundering poses significant challenges for law enforcement, as it allows for rapid and anonymous transfers across borders. The NCA’s report underscores the growing intersection of organized crime and digital currencies, raising concerns about the effectiveness of current regulatory frameworks.
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