Property searched in Thame and man arrested as part of money laundering investigation

A property in Thame has been searched by police and a 53-year-old man arrested as part of a large-scale money laundering investigation.
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On 5 May, officers from the Thames Valley Police Criminal Finance Team executed the search warrant relating to the laundering of criminal funds obtained from victims of fraud in the UK and abroad.

The 53-year-old man remains in custody.

The action is a result of substantial sums of money being obtained from a number of fraud offences committed between September 2019 and December 2019.

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These included romance fraud committed against vulnerable victims.

Romance fraud is the practice of fraudsters using dating websites and apps to create fake profiles and form relationships. They often gain trust from their victims and then ask for money, or even steal identities.

Senior investigating officer, Detective Inspector Duncan Wynn, of the Economic Crime Unit, said: “This morning we have executed this warrant as part of a large and complex money laundering investigation.

“The person in custody has been arrested on suspicion of money laundering and fraud offences.

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“Criminals rely on their ability to launder their criminal money. We work closely with UK financial institutions to target and disrupt this activity. Money launderers are key components of organised crime networks and our Criminal Finance Team has been set up to combat this element.

“As we continue with our investigation, I hope that the action taken today reassures the local communities that we take these offences seriously. We are working hard to restore losses to the victims and to ensure criminals do not benefit from their crimes.

“During these unusual and difficult times, unscrupulous criminals continue to target and exploit vulnerable victims. We take this opportunity to remind people to be extremely vigilant, particularly if contacted by telephone and asked to transfer sums of money.

“Take five minutes to think carefully before carrying out any transaction involving the transferring or withdrawing of funds. If in any doubt do not transact and contact your bank for advice.”

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Three simple ways to protect yourself from falling victim to a romance scam are; not giving away too many personal details, never send or accept money from someone you’ve only met online and use a reputable dating website or app and use their messaging service.