A U.K. public-private partnership set up last year to tackle financial crime took its first major action Thursday by freezing nearly 100 bank accounts suspected of being used to launder millions of pounds for crime syndicates.
A U.K. court has approved the permanent seizure of nearly £500,000 from the bank accounts of a 22-year-old student in London after the National Crime Agency, or NCA, linked the funds to overseas corruption.
A new law that gives U.K. officials up to seven months to freeze and investigate suspicious transfers played a key role in foiling the theft of hundreds of millions of dollars from the National Bank of Angola last year, according to legal records and an unpublished report.