UK police targeting organized crime make 17 arrests

LONDON - British police targeting organised crime said they had arrested 17 people on suspicion of charges ranging from money laundering to false accounting and tax evasion as part of a major operation involving 800 officers and the country's financial regulator.

Following a months-long investigation, the Financial Conduct Authority is taking action against seven firms, and is pursuing a further 30, the police said in a statement on Tuesday.

Properties in London, south east England and eastern England were raided in the early hours of Tuesday, and police said those arrested were suspected of being involved at a senior level in serious and organised crime.

The FCA said joint action was key to disrupting groups "who abuse our financial system to launder dirty money".

Reporting by Sarah Young; Editing by Kate Holton/Reuters