HMRC Ramps Up Use Of Dirty Money Powers To Freeze £20M

By Najiyya Budaly (May 27, 2020, 2:42 PM BST) -- HM Revenue and Customs has almost tripled its use of new powers over the past year to freeze and take back £19.5 million ($23.8 million) of dirty cash deposited by criminals in British banks, data published on Wednesday shows.

The tax authority issued 166 account freezing orders in the 12 months ending March 2020, up 177% from 60 the previous year, according to HMRC's response to a Freedom of Information request submitted by law firm RPC.

The orders blocked just under £19.5 million of suspicious funds from being withdrawn in the year to March 2020, compared to £7.9 million during the...

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