A UK drug gang has created a cryptocurrency to launder illicit funds; this marks a unique case in Britain. Organized crime has previously used established cryptocurrencies, but this initiative advances laundering techniques, according to expert Gary Carroll.
A UK-based drug gang has initiated its own cryptocurrency, marking a significant development in their attempts to launder funds derived from criminal activities. This approach represents potentially the first known instance in Britain of such a tactic. Historically, organised crime groups have relied on established cryptocurrencies like Bitcoin for fund obfuscation. However, this latest venture is considered to elevate the laundering process “one step further,” according to Gary Carroll, a drug crime expert from the Claymore Advisory Group and ex-police officer.
