HMRC ANTI-FRAUD SQUAD SAYS IT HAS RECOVERED GBP 1 BILLION IN CRIME PROCEEDS IN FIVE YEARS
January 18th, 2022
A specialist fraud squad for Britain’s HM Revenue and Customs (HMRC) has seized crime-tainted assets and money worth more than GBP1 billion (USD1.35 billion) since it was formed of five years ago, the organisation has revealed (1).
HMRC’s Fraud Investigation Service (FIS) utilises both criminal and civil enforcement powers to pursue suspected proceeds of crime. More than 1,200 seizures have been made to date by the unit under the Proceeds of Crime Act 2002.
Simon York, HMRC’s Director of Fraud Investigation Service, said: “Crucially, this money goes ...
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