Recommendation 25

Crypto-assets are the lifeblood of the ransomware ecosystem, and have been a major driver of the increased threat. The Government is making welcome reforms to the A hostage to fortune: ransomware and UK national security 67 UK’s legislative regime underpinning crypto-asset seizure, but we have heard that the NCA has insufficient capacity and skills to make full use of its existing powers, which might be why its total crypto seizures decreased by over a third between 2021/22 and 2022/23. It is essential that the UK bears down on the vast profits of these criminal groups. The Government and NCA must prioritise further resources towards the training and recruitment of officers with skills in crypto-asset trace and seizure, to reduce the incentives for criminals and to claw back some of the financial losses experienced by ransomware victims.