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5 Diverse Groups of US Enforcement Agencies Jointly Formed New Digital Currency Anti-Crime Task Force

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Different groups of US enforcement agencies has officially announced their collaboration to fight the crimes linked with digital currency and the darknet market.

However, they recently decided to officially partner together to ramp up activities.

The target of this new organization which was announced on June 20 as the Darknet Marketplace and Digital Currency Crimes Task Force is “crypto-enabled crimes”.

The task force will focus on crimes such as child exploitation, theft of private information, money laundering, and drug trafficking.

Furthermore, the task force’s objective is to destroy criminal organizations that took advantage of anonymity within the darknet to use digital currencies for criminal activities.

More Details of the Story

In a notable bid to combat crimes linked with the digital currency and darknet, 5 different US law enforcement agencies have officially launched the Darknet Marketplace and Digital Currency Task Force.

READ ALSO: Top Crypto Gainers on 19 June: SHIB, KAVA, XRP, DOT, Ecoterra, Deelance, AiDoge, And Launchpad XYZ

These agencies plan to dismantle and disrupt any criminal syndicate that leverages digital currency and darknet anonymity to commit crimes.

The 5 diverse groups comprise HIS (Homeland Security Investigations) Arizona, the Internal Revenue Service Criminal Investigation, Office for the United States Attorneys, the Postal Inspection Service, and the Drug Enforcement Administration.

These five different groups of law enforcement agencies have been working together since 2017. However, making their collaboration official by establishing a joint task force shows a commitment to step up their activities.

That is why, last week, the 5 above-mentioned law enforcement agencies signed a memorandum of understanding regarding the new task force.

According to Homeland Security Investigations (HSI), the exploitation of criminal organizations has greatly increased, and partnering with other enforcement agencies has proven beneficial since last year.

In addition, inside the US, other enforcement agencies are taking active steps to handle the problems caused by digital currencies.

For instance; earlier this year, the FBI (Federal Bureau of Investigations) built up a Virtual Asset Exploitation Unit.

This unit partners with the Justice Department’s National Crypto Enforcement Team.

Furthermore, SEC (Securities and Exchange Commission) has noticeably increased its Cyber Unite to handle the ever-changing environment of cybercrimes and this includes cryptos.

Overall, this latest joint law enforcement has their work cut out for them.

Since, according to Chainalysis’s estimation last year, more than 4000 cryptocurrency whales were holding funds obtained illegally.

Moreover, cryptocurrency phishing hacks rose by 40% that year as well.

But then, there is proof that the efforts of this joint law enforcement task force are paying off.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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