Safe deposit raids £35 million in cash recovered [NEWS ITEM]: London
(SW1H - Tuesday, 24 March, 2009)

On 2 June 2008, officers from the Metropolitan Police's Specialist Crime Directorate (SCD) raided seven addresses in an intelligence led operation targeting a safety depository business code named Operation Rize.

Today, Tuesday 24 March, nearly 10 months into Operation Rize, police are now investigating over 1000 spin-off investigations as a result of opening all of the safety deposit boxes.

Operation Rize was the first of its kind targeting criminals who use this type of secure storage and intelligence had indicated that there were possible links to paedophilia, firearms, trafficking, prostitution and money laundering. Using the proceeds of crime legislation, detectives were seeking to disrupt and dismantle criminal networks engaged in money laundering and using the safety depository business to facilitate this criminality.

The Met believes that this police operation has simultaneously impacted upon a number of criminal networks in London, nationally and globally. Operation Rize is a success and has exposed a huge number of criminals who were using the safety depository business to hide their illegal profit or activity.

The restoration all of legitimate property has been a matter of priority and has been a long and complex process. Police established a call centre to deal with customers and a call-in centre where owners were able to bring proof of ownership and collect their items in a safe a secure manner.

On the day of the raid 3554 boxes were seized. Although 2457 boxes have now been restored, there are 1068 active enquiries and £15.5m is currently detained under POCA legislation. £300,000 has been confiscated while the courts have forfeited a further £1.5 million.

Information protocols have been agreed with Her Majesty's Revenue and Customs, to identify people who can be referred to them for HMRC investigation.

A total of 700 box holders are in the process of being referred to HMRC for suspected tax evasion and the sums involved are in excess of £15 million.

Many were being used to store undisclosed income and we have even discovered a significant number of individuals who have never paid tax in their lives who are now being investigated. There are also a number of box holders who have asked for their monies to be paid directly to HMRC to cover unpaid tax. This totals over £3.2 million to date.

Since the start of the investigation officers have found examples of the following:

• cannabis
• cocaine
• 9mm firearms
• all denominations of cash
• forged passports
• illegal elephant tusks
• forged banking material
• forged bonds

There are currently 11 people who have to date been charged in relation to Operation Rize, and there are a number of arrests and criminal proceedings.

Police have made arrests in relation to:

• money laundering
• paedophilia
• concealing criminal property
• benefit fraud
• burglary
• drug supply
• possession of firearms
• fraud
• the importation of illegal elephant tusks

DCI Mark Ponting, Head of Operation Rize said:

"Operation Rize has been a great success, we have recovered £35 million cash, the majority of which is from the proceeds of crime.

"The hard work continues for the Met Police to ensure that all those who sought to use these facilities, as a way to hide illegal activity or ill gotten gains, are brought to justice.

"It is only right that London's communities can be confident that they can legitimately store items of value at a regulated facility.

"The Met Police are committed to taking the cash out of crime and investigating those criminals who seek to abuse the system. We are delighted to announce today that over 1000 investigations are in progress for Operation Rize."

Police Force: Metropolitan (London)

Address:
Metropolitan Police Service
New Scotland Yard
Broadway
GREATER LONDON
SW1H