UK regulators: Illegal crypto transactions in the UK amount to $5.1 billion per year

BlockBeats news, on August 17, according to a report released by the UK National Crime Agency (NCA), it is estimated that illegal crypto transactions related to the UK are as high as $5.1 billion each year. The report said that the international controller network uses various methods to provide money laundering services to criminals. This links the criminal proceeds generated in the UK to transnational cybercrime, affecting victims around the world. The NCA said that crypto assets are increasingly being used to launder non-digital criminal proceeds such as money laundering and are obtained through escalating cybercrime, including through malware and ransomware. (DL News)