Almost 3,000 high street shops raided in money-laundering crackdown

"Barbers, minimarts, and vape shops are among the 2,700 high street businesses that have been raided in the UK's largest ever crackdown of its kind on money laundering. Officials state that these cash-rich establishments, which have proliferated across British high streets in recent years, are can be exploited for a range of illicit activities, from disguising dirty money and hiding drugs to facilitating people trafficking and smuggling tobacco and vapes."

"These extensive raids form the second stage of Operation Machinize, a nationwide initiative launched 18 months ago after the National Crime Agency (NCA) concluded that a critical "tipping point" had been reached. Billions of pounds are laundered through the UK each year, around 12 billion of which is processed in cash. Most of this is thought to come from drugs."

"A month-long operation in October saw 2,734 premises visited and raided, 924 arrests, more than 10.7 million seized and 2.7 million of illegal goods destroyed. More than 450 companies have been referred to Companies House for further investigation. Nail bars, car washes, takeaways, phone shops and sweet shops were also among the businesses targeted. NCA deputy director for illicit finance Sal Melki said: Shops exploited by criminals can act as hubs for a range of poly-criminality."

UK law enforcement raided 2,700 cash-heavy high-street businesses, including barbers, minimarts, vape shops, nail bars, car washes, takeaways and phone shops, in a major money-laundering crackdown. The operation forms the second stage of Operation Machinize, launched 18 months earlier after the NCA declared a tipping point. A month-long October sweep visited 2,734 premises, resulted in 924 arrests, seized more than 10.7 million and destroyed 2.7 million of illegal goods, and led to over 450 companies being referred to Companies House. Officials state such outlets can launder cash, move illicit commodities, hide drug proceeds and facilitate trafficking and smuggling.

Read at www.independent.co.uk