Woman arrested and thousands of pounds worth of cryptocurrency seized

download 3 7

Woman arrested and thousands of pounds worth of cryptocurrency seized after warrant.

A 35-year-old woman was arrested on Wednesday, 12 August, following an investigation by detectives from the Met’s Proactive Money Laundering Team. 

The unit launched the investigation after establishing that the suspect was controlling a large sum of fraudulently obtained Bitcoin. 

Detectives established that a number of mule bank accounts had been used to receive the proceeds of fraudulent applications for ‘Bounce Back Loans’- a scheme launched by the Government to assist small businesses during the COVID-19 pandemic. 

These sums of money were then transferred from the mule accounts to the cryptocurrency wallet of the suspect.

A search warrant was obtained, and on the morning of Wednesday, 12 August, Met officers, assisted by officers from Suffolk Constabulary’s Proactive Crime Team executed a search on a residential address in Ipswich. 

The address was searched and several children were found to be on their own.

The suspect was found close to the address and was later arrested on suspicion of fraud, money laundering and child neglect. 

She was subsequently taken to a police station and later released under investigation after being interviewed.

On Thursday, 13 August, Met officers successfully applied to a London magistrates’ court for the detention of £115,000 of cryptocurrency held in the wallet of the suspect. The investigation continues.

Detective Sergeant Ian Barrett, from the Met’s Proactive Money Laundering Team, said: “I would implore people to be careful about what personal and banking information they give out online or over the phone. If you feel your bank account is being used by others, promptly report it to your bank and Action Fraud.

“For people to take advantage of Government support available to those who really need it in these unprecedented times is appalling.

“I would like to assure the public that the Met remain committed to working with institutions in the regulated financial sector and law enforcement partners to tackle organised financial crime and bring these serious criminals to justice.”