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U.K.-based organized criminals launder more than £4 billion worth of illicit cash through informal value transfer systems and bulk smuggling every year, an investigation led by Britain's National Crime Agency has found. Speaking at the 38th Cambridge International Symposium on Economic Crime on Monday, Graeme Biggar, director of the NCA's National Economic Crime Center, or NECC, said that investigators, regulators and compliance officers last year conducted "the most comprehensive assessment yet" of how criminals launder banknotes in Britain. U.K. crime groups generate around £12 billion in cash every year, mostly from drug trafficking and excise fraud, Biggar said, adding that...