Crypto crimes continue to be on the rise worldwide. In the UK, this includes one of the largest cases of bitcoin laundering by a British-Chinese woman.
British-Chinese woman Wen Jian was found guilty of one count of money laundering after a trial in a London court, according to a «Reuters» report. Prosecutors said she helped hide proceeds totaling 5 billion pounds ($6.4 billion) which was linked to fraudulent wealth schemes that stole from nearly 130,000 Chinese investors.
The laundering involved seized wallets holding more than 61,000 bitcoins. Wen, 42, said she did not have knowledge of the criminality of Qian Zhimin, the alleged mastermind of the scams who operated under the pseudonym of Zhang Yadi.
Crypto Crimes
Tech-related financial crimes have been on the rise as of late. According to a recent LexisNexis survey, 23 percent of respondents said they identified greater use of both crypto and artificial intelligence in financial crimes.
In November 2023, Taiwanese authorities discovered a record crypto laundering scheme and seized 10.4 billion Taiwanese dollars ($330 million) in assets.
