Press release -
£1m seized in Money Service Business raid
More than £1.1million has been seized following a raid on a Money Service Business (MSB) in London.
HM Revenue and Customs (HMRC) investigators arrested seven men and searched nine business and residential properties along with four vehicles.
The cash, which was piled up within the MSB, included Scottish bank notes and more than 30,000 US Dollars.
It was seized under the Proceeds of Crime Act, along with gold, electronic devices and paper records. A further £120,000 was discovered during a search of one of the vehicles.
More than 100 HMRC officers took part in the arrest operation on October 9, which is part of a criminal investigation into alleged money laundering.
Margaret Mousley, Deputy Director in HMRC’s Fraud Investigation Service. said:
“Money laundering is not victimless. It deprives our public services of much needed money and fuels wider organised criminal networks that bring misery and harm to our communities, including violence and exploitation.
“We will always be on the side of the law-abiding majority and will investigate any business suspected of laundering the proceeds of crime. This is a significant amount of money and the courts have agreed we can hold it for six months whilst our investigations continue.
“We urge anyone with information about money laundering or any type of tax fraud to report it to HMRC on GOV.UK.”
Seven men have been arrested and released under investigation.
Notes to Editors
- The raids took place across London on 9 October 2025.
- The men were arrested on suspicion of offences under sections 327, 328 and 329 of the Proceeds of Crime Act (2002).
- No further information can be provided at this stage.
- Anyone with information about any type of tax fraud is encouraged to report it online.
- Follow HMRC’s Press Office on X @HMRCpressoffice.
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Issued by HM Revenue & Customs Press Office
HM Revenue & Customs (HMRC) is the UK’s tax authority.
HMRC is responsible for making sure that the money is available to fund the UK’s public services and for helping families and individuals with targeted financial support.
