Crypto Fraud: UK Police Asset Recovery

UK Police and Gowling WLG Launch Asset Recovery Program for Crypto Fraud Victims

• The City of London Police partnered with Gowling WLG to launch a civil asset recovery program.
• This initiative follows a successful pilot recovering assets from a £2 million crypto fraud.
• Global crypto scams amounted to $9.9 billion in losses in 2024.
• Recent efforts led to the recovery of over £520,000 in stolen crypto assets.
• The Proceeds of Crime Act 2002 update allows freezing of stolen digital assets.

The City of London Police and Gowling WLG have initiated an asset recovery program targeting crypto fraud, following successful retrievals including over £520,000 from recent cases. This initiative is part of broader efforts to combat the $9.9 billion global crypto scam issue reported in 2024.