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To tackle cybercrime U.S. Department of Justice launched National Cryptocurrency Enforcement Team

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Rushali Das Follow

INDIA

Oct, 09 2021

Oct, 09 2021

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The U.S. Department of Justice announces the creation of a new cryptocurrency enforcement team to tackle financial crime

DOJ will frame a crypto enforcement group that will fight the cybercrime and money laundering issues. The group will help to DOJ’s ability to strengthen to fight crimes in the crypto sector.

Lisa Monaco, the U.S. Deputy Attorney General, announced the news at the Aspen Cyber Summit. She claims that the group will "strengthen" the DOJ's ability to disable financial markets that prompt the cybercriminals to "flourish." She further added that the DOJ would also launch an initiative just to focus on civil cyber fraud.

She exclaimed, "We are launching today the national cryptocurrency enforcement team. We have already made great strides in combating the misuse of cryptocurrency platforms, and we've shown—we won't hesitate to go after those platforms that help criminals launder or hide their criminal proceeds. It is a crowded and aggressive threat landscape."
She further exclaims,"Cryptocurrency exchanges want to be the banks of the future. We need to make sure that folks can have confidence when they use these systems."

Monaco explained that the team would include a mix of cybersecurity and anti-money laundering experts who would work together to protect consumers from any online financial crime. 


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Rushali Das

CBW - External Analyst

INDIA

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