The London Police, Scotland Yard, reported that it conducted large-scale searches and arrests this morning at 24 locations in London and the counties of Essex, Hertfordshire, Suffolk, and Cambridgeshire. The operation is reportedly set to continue for several more days. More than 800 police officers, along with representatives from the UK Financial Conduct Authority (FCA) and the tax authorities, are participating.
The police are not disclosing details of the operation but note that it is the result of a months-long investigation into the activities of a major organized financial crime group. Seventeen people were arrested during today’s raids. One police officer sustained a minor stab wound.
The individuals and companies under investigation are suspected of money laundering, tax evasion, and falsifying financial records. To date, the operations of seven companies have been shut down, and investigations are underway into 30 more.