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London\u2019s Metropolitan Police have reportedly assembled a 40-person team dedicated to cracking down on crypto crime.<\/p>\n
According to a new report<\/a> from the Financial Times, the police force\u2019s crypto team began recruiting last December and became operational in May.<\/p>\n Detective Inspector Geoff Donoghue, who works on the Met\u2019s crypto investigation team, tells the FT that crypto is no longer a niche element of criminal enterprises.<\/p>\n \u201cCryptocurrencies give a new dimension to the settlement of value transfer\u2026 Everywhere that we have looked, we have found [crypto]. The evidence is suggesting an endemic role of cryptocurrency in organized crime\u2026 Drugs, guns, girls and workers\u2026 There has been growing evidence that there has been the emerging use of crypto within those fields as well.\u201d<\/em><\/p>\n The team is reportedly in the midst of 19 active criminal investigations based on 74 \u201cintelligence referrals.\u201d<\/p>\n Mat Stanley, a detective sergeant in the Met\u2019s cyber crime unit, tells the FT that the crypto bear market hasn\u2019t diminished the use of digital assets in crime.\u00a0<\/span><\/p>\n \u201cWe\u2019ve sat through a couple of crashes now\u2026 But if you\u2019re buying \u00a3100 ($122) of drugs, you don\u2019t care if that costs one Bitcoin or 0.1 Bitcoin.\u201d\u00a0<\/em><\/p>\n The Metropolitan Police serve<\/a> the greater London area, excluding the city of London itself. Their jurisdiction is home to 8.6 million people.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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