UK uncovers vast crypto laundering scheme for gangsters and Russian spies

Q: How long will it take to read this news story?

The story "UK uncovers vast crypto laundering scheme for gangsters and Russian spies" has 971 words across 38 sentences, which will take approximately 5 - 9 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "UK uncovers vast crypto laundering scheme for gangsters and Russian spies" was covered 18 hours ago by Financial Times, a news publisher based in United States.

Q: How trustworthy is 'Financial Times' news outlet?

Financial Times is a fully independent (privately-owned) news outlet established in 1888 that covers mostly markets, finance, and investing news. The outlet is headquartered in United States and publishes an average of 15 news stories per day. It's most recent story was published 12 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #24121906</li><li>URL: https://beamstart.com/news/uk-uncovers-vast-crypto-laundering-17333278151211</li></ul>

Financial Times 18h ago

UK uncovers vast crypto laundering scheme for gangsters and Russian spies - Financial Times

Quick Summary:

The use of crypto to launder money has increased significantly in recent years, spurred by the Covid-19 pandemic when travel bans made it harder to move cash.

The network used couriers to collect physical cash from criminals in one country such as the UK in exchange for cryptocurrency, with Tether the most favoured.

The NCA said the network had been used by clients including the Kinahan cartel, Irish cocaine traffickers linked to numerous contract killings, as well as funding ransomware groups, and “Russian espionage operations” from late 2022 to summer 2023.