HMRC Outpaces SFO on Crypto Wallet Freezing Orders, FOI Data Shows

HM Revenue and Customs has been notably more willing than the Serious Fraud Office to use new powers to freeze and seize cryptoassets, according to Freedom of Information data obtained by law firm Gherson Solicitors.

Gherson submitted Freedom of Information requests, for the second year running, to establish how often the SFO and HMRC have used Crypto Wallet Freezing Orders and Crypto Wallet Forfeiture Orders since their introduction in April 2024. The orders were created when the Economic Crime and Corporate Transparency Act 2023 amended the Proceeds of Crime Act 2002 to aid the recovery of cryptoassets, working broadly like an Account Freezing Order but adapted to the technology behind digital assets.

For the period from July 2025 to June 2026, the SFO said it had sought one forfeiture order and one freezing order, while HMRC had again sought fewer than five of either, with exact figures withheld to avoid identifying individuals. That marks a shift for the SFO, which in the previous year had neither sought nor obtained any such orders, whereas HMRC had confirmed using both.

"Though the numbers remain small again this year, they do remain just as striking with HMRC using its powers more often," said Thomas Cattee, partner and head of the White-Collar Crime department at Gherson. "This is particularly interesting given the SFO's Business Plan 2026-2027 making reference to developing and maximising cryptoasset investigation capabilities."

He added: "It is important to remember that these powers represent only one small tool in the UK's law enforcement agencies' armoury and only suit certain investigations. However, these FOI results demonstrate that HMRC has again been far more readily utilising these new powers."