Regardless of whether you believe cyber currencies (nee crypto) are all about facilitating crime vs. crime being but a small, unfortunate side effect of the rise of crypto coinage, there’s no arguing with the fact that global law enforcement recognizes that cryptocurrency is the criminal’s playground.
In fact, four primary areas of criminal activity lend themselves to cryptocurrency: tax evasion, money laundering, contraband transactions, and extortion – not to mention the theft of cryptocurrency itself, which is all too easy with Bitcoin.
Cryptocurrencies have actually led to a massive cat and mouse game with law enforcement, as agencies get better at identifying criminal behavior, while criminals come up with new evasion techniques and increasingly anonymous cyber currencies in order to defeat the efforts of law enforcement.
While much of this innovation in the greater cyber currency/blockchain arena aligns with the interests of criminals, there is another side to this story: the increasing recognition that law enforcement requires its own technological innovation in order to keep up.
Read the full story over at Anti Corruption Digest.
This story was summarized by Canadian Fraud News Inc.