Britain Launches Mass Inspections Of Crypto Transfers Between Russia, UAE And China
4- 22.07.2025, 19:04
- 3,322
Details.
The UK has launched large-scale checks on cryptocurrency transfers between Russia, the UAE and China amid growing concerns about money laundering and sanctions circumvention. The UK's National Crime Agency (NCA) has urged financial companies to be more proactive in sharing information with law enforcement to improve efficiency in detecting illegal crypto asset transactions. The agency estimates that more than $130 billion is laundered in the country each year, with criminal networks generating $15.6 billion in revenue, reports The Moscow Times.
In partnership with the Financial Conduct Authority (FCA), the agency has called on public and private entities to launch joint campaigns aimed at raising awareness of the risks associated with cryptocurrencies - primarily bitcoin and ether. The agencies are focusing on transactions passing through high-risk jurisdictions, including Russia, China and the United Arab Emirates. There are plans to increase intelligence sharing between companies operating in these areas in the near future.
Financial institutions have been advised to conduct additional due diligence on customers who may potentially violate the sanctions regime or participate in money laundering schemes. Attention will also be paid to professional intermediaries providing services that facilitate the evasion of financial controls. The agency separately emphasizes the need to further investigate schemes to recruit "money mules" - people through whose accounts dubious funds pass. In 2022 alone, British banks recorded more than 39,000 suspicious accounts allegedly involved in such operations.
A large-scale international operation conducted late last year in the UK demonstrated the scale of shady crypto operations. British police, acting with the support of foreign partners, brought out of the shadows two transnational networks controlled from Russia. These structures were engaged in illegal exchanges of cash for cryptocurrency, serving the interests of oligarchs, drug cartels and intelligence services. The network covered more than 30 countries, including regions in Europe, South America and the Middle East, and acted as a "clearinghouse" for the global underworld. During the operation, 84 people were arrested, including 71 in the UK. Police seized over $25 million in cash and cryptocurrency.
Bank's name: Bank Millennium S.A.
Address: ul. Stanislawa Zaryna, 2A, 02-593, Warszawa
IBAN: PL97116022020000000216711123
SWIFT: BIGBPLPW
Name of the account holder: Fundacja “KARTA ‘97”
Purpose/title of payment: Donation for statuary aims
You can contact us by the e-mail charter97@gmail.com
