London Police and Gowling WLG Launch Civil Asset Recovery Initiative

According to BlockBeats, London police have partnered with the legal firm Gowling WLG to initiate a civil asset recovery program. This initiative aims to assist victims of cryptocurrency fraud and other cases where criminal prosecution is not feasible, offering them a chance to reclaim their assets. Previously, the UK police successfully recovered stolen cryptocurrency valued at £520,000 (approximately $671,000) for an 80-year-old victim during a pilot project. This recovery was facilitated by updates to the Proceeds of Crime Act 2002, granting police the authority to freeze stolen digital assets. Gowling director Bríd Holden expressed hope that this collaboration will encourage more victims to report crimes, coordinating efforts between police, victims, and their legal representatives to combat organized crime groups.