London Police Partners with Law Firms to Launch Civil Crypto Asset Recovery Program

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On April 6, according to Decrypt, the London Metropolitan Police established a partnership with the law firm Gowling WLG to launch a civil asset recovery program. The program primarily targets cases that cannot be criminally prosecuted, providing victims of cryptocurrency fraud with an opportunity to recover their assets. Previously, the British police successfully recovered stolen cryptocurrency worth £520,000 (approximately $671,000) for an 80-year-old victim in a pilot project. This recovery action benefited from updates to the Proceeds of Crime Act 2002, which granted police the power to freeze stolen digital assets. Bríd Holden, Director at Gowling, expressed hope that this collaboration would increase victims' willingness to report crimes and coordinate recovery efforts between law enforcement, victims, and their legal representatives to combat organized criminal groups.

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