UK’s financial regulator, the Financial Conduct Authority (FCA), has cracked down on suspects whom it alleges were operating illegal crypto ATMs around Leeds, a city in the northern English county of Yorkshire.
According to an announcement today, the crackdown came after a rigorous evidence-gathering campaign from several sites around the city conducted in conjunction with West Yorkshire Police’s Digital Intelligence and Investigation Unit.
“Having conducted intelligence gathering work across West Yorkshire, we soon established the locations of several live crypto ATMs,” said Lindsey Brants, a detective with the Force Cyber Team at West Yorkshire Police.
Although no arrests were made, Mr Lindsey disclosed that they issued warning letters requesting the operators to “cease and desist” from using the ATMs, failure to which they would face prosecutions under UK’s money-laundering regulations. However, the FCA noted that it would review evidence gathered during the visits and consider further potential enforcement action.
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