If a single entity in the banking system was dealing with multi-million pound illicit transactions it would be shut down as complicit (there are examples of this).
Yet this extortion system extends to hundreds of millions of pounds across multiple "institutions" and there seems to be little push-back against it.
Unfortunately this is the dark side of the crypto system and the one the public sees. I'm sure "currency" flies around the world purely with the aim of being laundered rapidly yet the authorities appear either powerless or unwilling to act against this activity - the criminals are in full control. Something (eg banning cypto) has got to happen before the system melts down into a sea of extortion, drug money and payment for pizzas.