Police Seize £1million Found In A Black Cab In East London

It's the largest single cash seizure for over a decade

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Police have seized £1million stashed in a black cab in east London.

The cash was discovered in a large black hold-all in the passenger compartment after officers pulled over the vehicle.

Since the Proceeds of Crime Act was introduced in 2002, Scotland Yard has seized a record £73 million from convicted criminals - including the sum discovered in the cab.

The money found in the taxi is so far the largest single cash seizure - which was just shy of a million at £943,000 - with Met police chiefs suggesting the money was being moved around the capital by a criminal network.

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Sir Bernard Hogan-Howe - Met commissioner, who is set to be replaced by Cressida Dick - said (via The Telegraph: "The Met is here to reduce crime and keep people safe. It's satisfying to see criminals pay back for the damage they cause communities through the assets we've recovered.

"The message is loud and clear, crime does not pay and criminals who think it does will have to deal with the full force of the Met."

Since his appointment as Commissioner in 2011, the Met has claimed £317.14m through the Proceeds of Crime Act, with £27m alone being seized from criminal couriers.

Confiscated money by the Met is paid to the Home Office, with a percentage going back into the Met towards police operations. Last year, the Met were reinvested with £8.89m from the Home Office.