The UK National Crime Agency is taking significant steps to combat crypto-related crimes by expanding its digital assets investigation team. The NCA is currently hiring four senior investigators for its Complex Financial Crime Team. This is in a bid to strengthen its efforts against high-end crypto fraud, money laundering, and other blockchain-based crimes carried out by organized groups,
Collaborating for a Safer Crypto Landscape
The selected investigators will play a crucial role in working closely with a surveillance team and the London police to bring down illicit crypto activities. Their responsibilities involve investigating and probing complex cases. Additionally, they will also be working in coordination with other investigators, intelligence, and analysis team members.
This collaborative approach aims to develop strong cases backed by data and evidence sourced from various channels.
The NCA’s Increasing Focus on Crypto Assets
The expansion of the digital assets investigation team comes as a result of the NCA’s growing concern over the surge in crypto fraud in the UK. The NCA launched its dedicated digital assets team on January 4. This was in response to the escalating value lost to crypto-related crimes in 2022. The unit’s primary objective is to address and combat illicit crypto activities more effectively.
Reports indicate that crypto scammers pilfered at least $287 million in the UK alone during 2022. This further highlights the urgency to counter such crimes.
Continuously Strengthening the Crypto Team
Undeterred by the challenges posed by crypto criminals, the NCA has been relentless in its efforts to boost the manpower of its crypto team. On July 26, the agency also sought financial investigations managers to oversee crypto and digital assets crime investigations.
This role focuses on the implementation of the Proceeds of Crime Act, which aims to confiscate and redirect crime proceeds for the benefit of the community.
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