HM Revenue and Customs Seizes NFT In £1.4m Fraud Case
Feb 15, 2022 ·
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Description
The UK tax authority has seized three Non-Fungible Tokens as part of a probe into a suspected VAT fraud involving 250 alleged fake companies. HM Revenue and Customs say three...
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The UK tax authority has seized three Non-Fungible Tokens as part of a probe into a suspected VAT fraud involving 250 alleged fake companies.
HM Revenue and Customs say three people had been arrested on suspicion of attempting to defraud it of £1.4m.
The authority says it was the first UK law enforcement to seize an NFT.
NFTs have been touted as the digital answer to collectables, but plenty of sceptics fear they're a bubble waiting to burst.
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HM Revenue and Customs say three people had been arrested on suspicion of attempting to defraud it of £1.4m.
The authority says it was the first UK law enforcement to seize an NFT.
NFTs have been touted as the digital answer to collectables, but plenty of sceptics fear they're a bubble waiting to burst.
Information
| Author | Africa Business Radio |
| Organization | Africa Business Radio |
| Website | - |
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