In order to combat darknet and cryptocurrency-related criminal activities, several federal law enforcement agencies in the United States have jointly established the Darknet Market and Digital Currency Crime Task Force, which is a key measure to combat darknet criminal activities. The announcement, issued on June 20, signifies growing concern over criminal activities such as drug trafficking, money laundering, child exploitation and theft of personal data.
Who is involved in the working group?
Arizona Homeland Security Investigations (HSI), the US Attorney’s Office, the Internal Revenue Service (IRS) Criminal Investigation Service, the Drug Enforcement Administration (DEA) and the US Postal Inspection Service form the main pillars of the task force. The agencies have been working together since 2017, and their strengthened alliance formalized their efforts to investigate cryptocurrency crime and darknet activity. The rise of digital currencies has given criminals new tools to carry out illicit activities and money laundering, the new working group said. Technology and the anonymity it often provides complicates law enforcement’s purview, forcing agencies to adapt their tools, resources, and intelligence capabilities.
DHS, which works with businesses and industries that manage financial systems that terrorists and criminal organizations seek to exploit, seized nearly $4 billion in cryptocurrencies from illicit activity last year. #fraud #police #AML #finance pic.twitter.com/VbGz3bj2ny— Homeland Security Investigations (@HSI_HQ) June 16, 2023
The main function of this working group will be to disrupt and dismantle criminal organizations exploiting the new technologies built in Web3 and the covert nature of the dark web. “HSI and our partners have been working to combat crimes committed through the use of cryptocurrencies on darknet markets and other anonymous platforms,” HSI Arizona Special Director Scott Brown said in a release. activities.” “This working group will have a major impact on criminals who try to develop their businesses and launder illegal proceeds through advanced technology.” In recent years, cooperative agencies have successfully investigated and dealt with a number of major cases. These include drug gangs using the dark web and encryption, as well as individuals dealing fentanyl and other drugs online.
keep pace with the times
It’s worth noting that Darknet Markets and the Digital Currency Crime Task Force aren’t the only units focused on cryptocurrency-related crime. The FBI created a Virtual Asset Exploitation Unit in 2022, and the Justice Department has had a National Cryptocurrency Enforcement Team since 2021. Additionally, the Securities and Exchange Commission (SEC) significantly expanded its cyber division last year, as reflected in its recent crackdown on the cryptocurrency industry. The Darknet Markets and Digital Currency Crime Task Force represents the latest step in a growing strategy to address the challenges posed by the integration of digital currencies and the Internet into criminal activity. Law enforcement agencies around the world, including Interpol and Canada’s local police force, have also created specialized units to fight these crimes. While the task force is headquartered in Arizona, its work will span the globe, given HSI’s 93 foreign affiliates in 56 countries. Through this coordinated approach, U.S. law enforcement is sending a clear message to those who exploit technology for illicit purposes: They can be exposed, prosecuted, and punished. Editor’s note: This article was written by nft now staff in collaboration with OpenAI’s GPT-4.