Law enforcement authorities in the city of London are joining forces with an international law firm to help fraud victims recover their stolen assets.

In a statement, the City of London Police says it is teaming up with law firm Gowling WLG for a civil asset recovery program that will be made available to select fraud cases where prosecution is not possible or viable. 

The partnership is being announced following a successful pilot project that helped an elderly victim suffering from Alzheimer’s disease who was swindled by a cryptocurrency scam scheme and lost more than £2 million ($2.58 million).

According to the police force, the UK lost more than £570 million ($735.58 million) to fraud in the first half of 2024 alone. 

Says Gowling WLG director Bríd Holden, 

“We are hoping that working in collaboration with City of London Police will change the landscape and encourage more victims to report fraud, raising awareness generally.”

The law enforcement agency says that in addition to giving fraud victims the opportunity to take back their losses, the program also enables civil asset recovery agents to pursue and seize the assets of organized crime groups (OCGs).

Says City of London Police Detective Chief Inspector Craig Mullish, 

“[A] judicial outcome in the form of a custodial sentence and or conviction is the ideal outcome, however it’s the lost money or assets that can have a lasting effect on victims. This trial with Gowling WLG is a positive initiative, which we hope will provide a clear process for victims in helping them take back what is owed to them.” 

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post London Police Team Up With International Law Firm After Elderly Victim Defrauded for $2,580,000 appeared first on The Daily Hodl.

Law enforcement authorities in the city of London are joining forces with an international law firm to help fraud victims recover their stolen assets.

In a statement, the City of London Police says it is teaming up with law firm Gowling WLG for a civil asset recovery program that will be made available to select fraud cases where prosecution is not possible or viable. 

The partnership is being announced following a successful pilot project that helped an elderly victim suffering from Alzheimer’s disease who was swindled by a cryptocurrency scam scheme and lost more than £2 million ($2.58 million).

According to the police force, the UK lost more than £570 million ($735.58 million) to fraud in the first half of 2024 alone. 

Says Gowling WLG director Bríd Holden, 

“We are hoping that working in collaboration with City of London Police will change the landscape and encourage more victims to report fraud, raising awareness generally.”

The law enforcement agency says that in addition to giving fraud victims the opportunity to take back their losses, the program also enables civil asset recovery agents to pursue and seize the assets of organized crime groups (OCGs).

Says City of London Police Detective Chief Inspector Craig Mullish, 

“[A] judicial outcome in the form of a custodial sentence and or conviction is the ideal outcome, however it’s the lost money or assets that can have a lasting effect on victims. This trial with Gowling WLG is a positive initiative, which we hope will provide a clear process for victims in helping them take back what is owed to them.” 

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post London Police Team Up With International Law Firm After Elderly Victim Defrauded for $2,580,000 appeared first on The Daily Hodl.