UK allocates £500 million to combat money laundering, with cryptocurrency listed as a major threat.

According to Decrypt, the UK Home Office has announced the launch of a new Anti-Money Laundering and Asset Recovery Strategy, planning to invest £500 million (approximately $676 million) over three years and recruit 500 dedicated personnel across police forces, the National Crime Agency (NCA), and the Crown Prosecution Service. The NCA estimates that more than £100 billion is laundered annually through the UK or UK corporate structures, noting that the rise of fintech, cryptocurrency, and AI has further exacerbated this threat. This initiative will expand upon the "Disruption Operation," which has so far resulted in the arrest of 119 suspected money launderers and the seizure of over £25 million in cash and crypto assets in under a year. The NCA also plans to launch a fresh round of arrests and asset confiscations targeting ransomware syndicates, hostile states, and drug trafficking-related networks.