Video: Met Police crackdown on economic crime: 81 arrests so far

12:43 29 May 2012

A yacht seized by the Met Police which has been dry-docked and will be searched as part of a money laundering investigation under Operation Stimtone

A yacht seized by the Met Police which has been dry-docked and will be searched as part of a money laundering investigation under Operation Stimtone


Police have so far made 81 arrests in the Met’s largest ever crackdown on economic crime.

Launched today, officers on Operation Stimtone are carrying out 300 separate operations to target people those involved in money laundering, identity fraud, handling stolen goods, conspiracy to defraud and those who target the vulnerable and elderly sections of our community.

Economic crime costs businesses and the taxpayers of London tens of millions of pounds every year.

As well as the arrests, officers have also seized £1.4 million cash, more than 500 cannabis plants, two replica firearms, a large quantity of class A drugs including 170 wraps of cocaine, one CS gas canister, two cars, one motorbike and a £25,000 motor cruiser.

Various items of stolen property including games consoles have also been recovered throughout the morning..

More than 900 officers are working across London today executing search warrants for stolen property and proceeds of crime, undertaking covert operations against fraudsters, carrying out financial investigations and paying visits to pawnbrokers, bureaux de change, storage companies and scrap metal dealers.

Commander Allan Gibson is leading today’s operation. He said: “Economic crime is not a victimless crime. It affects all of us as law-abiding members of the public. We ultimately end up paying the price for crimes against businesses through increased taxes, insurance premiums and the price of goods.

“This is why today over 900 officers will be busy working across all 32 London boroughs seeking to seize the proceeds of crime and work to take criminal property back.

“We are determined to make sure crime does not pay but criminals do. We want to show communities criminals who comfortably live off the proceeds of their crimes are being brought to justice. Working together we are stronger and we can get the better of criminals.”

You can follow the key results on Twitter @metpoliceuk. The hash tag throughout the day will be #bigwing.

If you have any information on people or individuals who are running scams or making money through any criminal activity call 101 to speak to a police operator or alternatively call Crimestoppers anonymously on 0800 555 111.

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