A billion-pound money-laundering network operating across 28 towns and cities in the UK has been converting proceeds from drug trafficking, firearms sales and organized crime into cryptocurrency, with some of those funds ultimately helping Russia sidestep sanctions and bankroll its war effort, Sky News reported, citing National Crime Agency (NCA).
The operation, uncovered through the NCA’s long-running “Operation Destabilise,” has already led to 128 arrests and the seizure of more than £25 million in cash and digital assets. Investigators say the network was so entrenched that it even acquired its own bank to streamline illicit payments linked to Russian interests. Couriers reportedly collected bags of “dirty” cash before it was rapidly moved into crypto markets. The NCA warned that these flows are not just fuelling UK criminal activity but also connecting directly to “geopolitical events causing suffering around the world.”
