Europol: Bitcoin May Become Sole Currency for EU Cybercriminals
Europol has said in a new report that it believes bitcoin could become the go-to currency for digital criminals in the region. The European Union's top law enforcement agency released its Internet Organised Crime Threat Assessment for 2015 on 30th September, outlining its view of the top cybercrime threats facing the European Union. The report focuses on the topic of bitcoin and digital currencies in a number of contexts, including the state of criminal financing and specific elements of illicit activity involving the technology. Europol said that, according to its data, bitcoin accounts....
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In its latest report called the Internet Organised Crime Threat Assessment for 2015, Europol outlined the state of cybercrime threats in the European Union. The report mentions bitcoin and virtual currencies, claiming that it accounts for roughly 40% of criminal-to-criminal transactions online. This follows the agency's statement indicating that cryptocurrencies promote the crime-as-a-service business model, wherein bitcoin was highlighted for its role in facilitating money laundering. The cryptocurrency is known for its anonymous transactions, which Europol says makes it "heavily abused....
Europol and Interpol have agreed to work together on issues related to the criminal use of digital currencies. The partnership became official during this year's Interpol - Europol Cybercrime Conference, an annual gathering of international law enforcement officials, held in The Hague. The event, Europol said, drew more than 350 attendees. According to a statement from Europol, the partnership will see coordination "against the abuse of virtual currencies for criminal transactions and money laundering". The statement said: "[The partnership] will include actions around policy, stimulating....
The latest research from Europol called the Europol Internet Organized Crime Threat Assessment makes it clear how thieves’ use of Bitcoin is changing. The report talks about the use of stablecoins like Tether (USDT) and Bitcoin for illegal activities, and how Monero is becoming more popular for private transfers, among other key findings. Related Reading: […]
Monero, Samurai, Wasabi, OpenBazaar cited as threats in Europol report.
Europol has revealed the arrests of members of a darknet-based counterfeit currency racket who received over €160,000 in Bitcoin (approx. $172,000). In an announcement, today, Europol, the European Union’s primary law enforcement agency, revealed details of an investigation of a criminal group touted to “one of the biggest vendors of counterfeit euro currency online.” The vendor was active in different marketplaces, Europol added, with accomplices in the Naples area, in Italy. The investigation revealed that the vendor was selling counterfeit 20, 50 and 100 euro notes on the Darknet for....