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UK officials, including Transport Secretary Grant Shapps, boarded the vessel at Canary Wharf in east London on Tuesday.
The name of the vessel’s owner was not made public.
The 58.5-metre yacht is bright blue and features an “infinite wine cellar” and freshwater swimming pool, according to the National Crime Agency.
It is valued at $24 million.
The Phi, named after a mathematical concept, was in London for a “refit” but “won’t be going anywhere,” Mr Shapps said.
The yacht is registered in St. Kitts and Nevis but carried Maltese flags to hide its origins, the crime agency said.