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The UK National Crime Agency (NCA) has officially ranked cryptocurrency as the third-highest economic crime priority in its latest assessment. This classification follows the agency's collaboration with the Financial Conduct Authority, which released nine economic crime system priorities in July 2025. Only professional enablers, such as corrupt lawyers and accountants, and politically exposed persons ranked higher on the list of threats.
The NCA's 2026 National Strategic Assessment of Serious and Organised Crime highlighted the increasing use of cryptocurrency by criminals for evasion and the large-scale movement of illicit funds. Notably, the agency aims to enhance its own intelligence capabilities to proactively identify targets involved in crypto-related crime, moving away from reliance on external sources such as exchanges and blockchain analytics firms.
This initiative is part of Operation Destabilise, an ongoing investigation that began in 2022, which targets cash-to-crypto laundering networks associated with Russian-speaking organized crime. The operation has resulted in 129 arrests and the seizure of over £25 million in cash and cryptocurrency. The NCA estimates that more than £100 billion is laundered through the UK annually, indicating that cryptocurrency is increasingly viewed as a significant component of this illicit activity.
The NCA's strategy marks a shift in approach, focusing on developing in-house intelligence capabilities rather than depending on external blockchain analytics companies, which many law enforcement agencies globally still utilize. The agency's emphasis on addressing sanctions evasion and ransomware-related financial transactions reflects a broader geopolitical context, underscoring the growing importance of cryptocurrency in the landscape of economic crime in the UK.
Source: KLEA News