According to ChainCatcher, citing Decrypt, the London Police have 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 was made possible by updates to the Proceeds of Crime Act 2002, which granted police the power to freeze stolen digital assets.
Bríd Holden, Director at Gowling, stated that they hope this collaboration will increase victims' willingness to report crimes. The partnership will coordinate recovery efforts between the police, victims, and their legal representatives to combat organized criminal groups.
