U.K Government Action Against Crypto Money Laundering

By HowToVids | Crypto Blockchain News | 16 Jul 2019

Every country tries to eliminate criminal activities from their society because it creates dis-balance. These crimes could be in any field. Whenever there is a crime the law and enforcement agencies would activate and take action to eliminate those activities. Sometimes one crime is linked with many other crimes. Same is the case with financial activities. When there is a financial fraud or criminal activity involved agencies will take action.

U.K government plan to take action against the financial issues that involve fraud and money laundering. These actions also include digital money or crypto assets. Because different companies or individuals are doing fraud on the name of cryptocurrency. Also, ensure that crypto money is not used for money laundering

Chancellor of the Exchequer Philip Hammond said that “The UK has one of the toughest systems for combating money laundering, but too many people are still falling victim to fraud. This crime fuels everything from drug dealing to modern slavery, fundamentally undermining people’s faith in our financial system and impacting economic growth. By bringing together leaders from across government, law enforcement and business, we can better tackle the scourge of dirty money, and ensure the UK continues to be one of the safest places in the world to invest and do business.”

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