British criminal gangs turn to gold Money Laundering

On June 19, Decrypt reported that British criminal organizations are increasingly using gold to launder money and hide illegal gains. Against the backdrop of gold prices near all-time highs (around $3,400), police uncovered multiple cases, including an Essex drug dealer hiding $32,425 worth of gold coins, and a Bradford gang laundering nearly $359.4 million by buying gold nuggets. According to legal counsel Gary Carroll, gold allows criminals to turn large amounts of cash into items that are easy to carry and appreciate in value. However, Ari Redbord, global head of policy at TRM Labs, pointed out that because gold is not circulating on the blockchain, its growth in criminal use is difficult to quantify, which is exactly why criminals choose it. In contrast to traceable cryptocurrencies, gold leaves no "digital trail", but transporting large amounts of gold is still risky.