UK fraud review suggests judges receive training on crypto laundering and AI fraud, citing seizure of over 61,000 BTC
2026-07-15 12:22
Odaily reported that a fraud review commissioned by the UK government has recommended that the Judicial College provide training for all judges and magistrates in England and Wales to address the rise in cases involving AI fraud and money laundering using cryptocurrencies.
The report argues that the Fraud Act 2006 is generally adequate for handling AI fraud, but the problem lies in the courts being unprepared to hear these cases. It recommends assessing whether the existing "Long and Complex Trials" course should be updated or replaced with a dedicated fraud and related crime module, and considering mandatory training for judges who may preside over complex fraud cases.
The report states that fraud could soon account for half of all crime in England and Wales, with an estimated 4.1 million cases occurring in the year to June 2025, affecting one in every 14 adults and one in every 4 businesses. The Financial Ombudsman Service estimates that over half of investment scams now involve crypto assets.
The report also cites the case of Qian Zhimin, who ran a Ponzi scheme in China, defrauding over 128,000 victims of approximately £5 billion, and laundering the proceeds into Bitcoin. This case resulted in the largest confirmed Bitcoin seizure in UK history, amounting to over 61,000 BTC. Qian Zhimin was sentenced to 11 years and 8 months in prison at Southwark Crown Court in November.
The report argues that the Fraud Act 2006 is generally adequate for handling AI fraud, but the problem lies in the courts being unprepared to hear these cases. It recommends assessing whether the existing "Long and Complex Trials" course should be updated or replaced with a dedicated fraud and related crime module, and considering mandatory training for judges who may preside over complex fraud cases.
The report states that fraud could soon account for half of all crime in England and Wales, with an estimated 4.1 million cases occurring in the year to June 2025, affecting one in every 14 adults and one in every 4 businesses. The Financial Ombudsman Service estimates that over half of investment scams now involve crypto assets.
The report also cites the case of Qian Zhimin, who ran a Ponzi scheme in China, defrauding over 128,000 victims of approximately £5 billion, and laundering the proceeds into Bitcoin. This case resulted in the largest confirmed Bitcoin seizure in UK history, amounting to over 61,000 BTC. Qian Zhimin was sentenced to 11 years and 8 months in prison at Southwark Crown Court in November.
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