132 countries attend 4th Global meet on criminal finances


Representatives discuss cross-sector solutions against criminal use of cryptocurrencies

Over 2,000 representatives from 132 countries attended the 4th Virtual Global Conference on Criminal Finance and Cryptocurrencies organized by Interpol, Europol and the Basel Institute on Governance from November 18-19.

“Representatives of law enforcement and justice, financial intelligence units (FIUs), international organizations and the private sector have come together virtually to develop cross-sectoral international solutions against the criminal use of cryptocurrencies” , Interpol said.

The conference is an initiative of the Cryptocurrency and Money Laundering Working Group established in 2016 by the three organizations, launched with the aim of building knowledge, expertise and best practices for investigating crimes financial and intelligence on virtual assets and crypto-currencies.

“The recent increase in the number and quality of investigations into cryptocurrency-facilitated crime and the resulting money laundering means that law enforcement and other public entities continue to ” improve their level of knowledge and expertise in this area of ​​crime. In this regard, the conference was an opportunity to highlight the need for countries and jurisdictions to increase the exchange of tactical information and good practices, so that the lessons learned by one entity can be useful to others ” , did he declare.

The conference highlighted the need to expand capacity on ways to probe virtual assets and regulate virtual asset service providers to prevent money laundering.

“A multi-agency and multidisciplinary approach involving both the private and public sectors is essential to tackle criminal finances and the misuse of cryptocurrencies. By combining the expertise and data on financial crime held by the private sector with the investigative capacities of law enforcement agencies, we can strengthen our collective capacities and step up our efforts against criminal finance, ”said Ilana de Wild, Interpol Director for Organized and Emerging Crime.

The conference agenda included trends and investigations into cryptocurrency-related breaches, exploration of dark market criminal flows and operations, ransomware and sextortion case studies, the money laundering involving virtual assets and the transfer of drug proceeds using cryptocurrencies.

Participants endorsed recommendations on capacity building measures on ways to probe virtual assets, establishment of a clear regulatory framework to prevent money laundering, adoption of “ follow-up ” strategies money ” against the proceeds of crime, strengthening the exchange of information to dismantle criminal networks and the exploitation of new technologies in the criminal field. funds the investigations, Interpol said.


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