Crypto Criminals Are Upgrading: Europol Issues Stark Warning
Europol has raised fresh alarm about how criminals are handling cryptocurrency. According to the agency, misuse of crypto and blockchain is growing more complex and organized, and that trend is stretching police resources across Europe. Related Reading: 17 Years Later, Bitcoin Still Runs — Unstoppable Since Day One Europol Findings And Figures Based on reports […]
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Europol and Interpol have agreed to work together on issues related to the criminal use of digital currencies. The partnership became official during this year's Interpol - Europol Cybercrime Conference, an annual gathering of international law enforcement officials, held in The Hague. The event, Europol said, drew more than 350 attendees. According to a statement from Europol, the partnership will see coordination "against the abuse of virtual currencies for criminal transactions and money laundering". The statement said: "[The partnership] will include actions around policy, stimulating....
Europol, the European Union's law enforcement agency that deals with criminal intelligence is calling for police to be given additional powers when it comes to identifying wrong-doers, particular those who are laundering money using bitcoin and other digital currencies. "We're seeing that virtual currencies are being used as an instrument to facilitate crime, particularly in regard to the laundering of illicit profits," said Rob Wainwright, director at Europol, at a nuclear security conference in The Hague, Netherlands. Europol doesn't have their own policing powers, but they say that....
Europol, the European Union's top law enforcement agency, has co-founded a new working group dedicated to digital currencies. The initiative is being co-led by Interpol, the intergovernmental organization focused on law enforcement issues, and the Basel Institute on Governance, a non-profit group focused on financial crimes in the public and private sectors. The working group, according to an announcement last week, will involve the organization of collaborative workshops and a global network comprised of subject matter experts. Europol said in a statement: "Internet technologies....
Similarly to how most governments feel, Europol is not too keen on end-to-end encryption either. The report mentions how several cases of child abuse have been livestreamed over encrypted connections. Cybercrime is a threat of all ages, even though things seem to be getting progressively worse over time. Europol has issued a new warning against the mounting number of online crimes. At the same time, they are also concerned about the mounting number of opportunities for criminal gain. Bitcoin is, of course, mentioned as well. The number of threats posed by internet criminals has never been....
Europol has issued a new report on Internet crime in which it outlined a number of scenarios involving bitcoin. Called the Internet Organised Crime Threat Assessment (iOCTA), the report examines the use of bitcoin on various dark web sites, by organised crime and individual actors, and calls digital currencies an 'enabler' for cryber-criminals and a challenge for law enforcement. However, it makes a clear distinction between bitcoin and digital currencies designed with true anonymity in mind, like darkcoin, warning: "We feel it should concern everyone that the latest cyber currencies are....