In a new report published by the financial arm of the UK government, cryptocurrency It was revealed that companies, along with retail banking, wholesale banking and asset management, are among the most important money laundering risks between 2022 and 2023.
The report’s conclusions were drawn from risk assessments carried out on 238 firms by the Financial Conduct Authority (FCA). The FCA, a financial regulator in the United Kingdom, has been trying to get crypto firms to register with it and comply with money laundering rules since 2020.
According to the report, the United Kingdom is making intense efforts to suppress cryptocurrency-related crimes. In October 2022, UK police announced they were deploying crypto tactical advisors across the country to assist in the seizure of digital assets linked to criminal activity. The National Police Chiefs’ Council reported that they managed to seize hundreds of millions worth of crypto from crimes.
Data from the newly published report showed that between 2022 and 2023 the FCA had 52 full-time financial crime specialist staff dedicated to anti-money laundering supervision. Of these, 15 were focused on regulating crypto businesses.
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!