Bitcoin and Cryptocurrency Crime Under the Lens at Australian Police Conference

By November 14, 2019 Bitcoin Business
Click here to view original web page at beincrypto.com

More than 200 representatives of various police departments will meet in Brisbane, Australia, this week. The purpose is to share information about the evolving methods online criminals are using to carry out crimes and hide the proceeds from them with the help of Bitcoin and other technologies.

Representatives from the Australian Federal Police (AFP), United States Department of Justice, Singapore Police Force, New Zealand Police, Australian Taxation Office and the Australian Securities and Investment Commission, the Australian Criminal Intelligence Commission and the Australian Transaction Reports and Analysis Centre, along with state and territory police will attend the 2019 National Proceeds of Crime Conference. The event is being held between November 13 and 15.

According to an AFP press release, the theme of the conference will be ‘rethinking law enforcement efforts to address the Globalisation and Digitisation of the Criminal Economy.’ Hosting the three-day meetup is the Australian Federal Police-led Criminal Assets Confiscation Taskforce.

Justine Gough, the acting assistant commissioner of the AFP, commented on the need for such a conference:

“Advances in technology, like cryptocurrency and encrypted communications have changed the way criminals acquire and hide their assets… Seizing and removing the profits of crime is one of the most effective capabilities we have in impacting organised criminal networks.”

The key topic covered at the conference will be how law enforcement responds to the digitization of criminal activities. Aside from Bitcoin and cryptocurrencies, other issues addressed will include the dark web, money laundering, and how different law enforcement authorities can collaborate on investigations, as well as the general monetization of cybercrime.

Earlier this year, BeInCrypto reported on the collaboration between the AFP and the Australian securities regulator ASIC that saw an identity fraud ring brought down. Those involved were selling individuals’ identities and using them for various criminal means. This week’s conference seeks to promote similar collaborative efforts to bring scammers and online criminals to justice, as well as to better understand how crypto-assets can be used for illicit ends.

Images are courtesy of Shutterstock.

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