The United Kingdome’s HM Revenue and Customs department disclosed on Monday that their officials have blocked and seized three different (NFT) Non-fungible Tokens and crypto’s worth of 5K Pounds Sterling’s in and under investigation scam case. Moreover, three people have also been taken into the custody of UK authorities in connection with the same scam.
The UK officials from the Tax, payments and Customs department further disclosed that It was the first-ever taken step against the closure of NFT’s and Cryptocurrency assets.
The under investigation (VAT) Value added Tax repayment scam also involves another 250 fake companies that caused $1.9 million worth of loss to the National Tax and Revenue department.
The accused persons made several attempts to claim the fake VAT amount which they were not awed. In addition to it, the arrested guys used fake IDs, Unregistered prepaid sim cards and completely fake business invoices to prove their business activities.
The Deputy Director of UK HRMC “Nick Sharp” further added
"This is the first seizure of NFTs in the UK and a clear message to those indented to hide their income from HRMC"
We are constantly watching and exploring the new ways and systems to get those red-handed who are planning to hide their identity in order to plot any fraud with State Department
What do you guys say about this seizure of NFTs by the UK HMRC?. Do let us know about it in the comments.
