Europol Report States No Evidence of Terrorists Using Bitcoin
A Europol report that establishes a review of EU member states and the Europol in the aftermath of the terrorist attacks that struck Paris in November 2015 has found no confirmed evidence that suggest Bitcoin is used for terrorism financing. A report by Europol – the European Union’s law enforcement agency, has aggregated and established a rounded review of the changes in Islamic State’s operations, studied by EU member states and Europol itself soon after the Paris attacks late last year. The report also stated that the financing of terrorist operations did not undergo any marked changes....
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A report drafted by EU law enforcement agency Europol has found that there is no evidence to back up reports linking the Islamic State (IS) to the use of bitcoin or other alternative digital currencies. Released on 18th January, the report is the product of a review held by EU member states and Europol in the wake of the 13th November Paris attacks. Included was the finding that there have been no recent changes in how IS has been seeking to finance its operations. The report reads: "There is no evidence however of IS-financing networks in existence. Despite third party reporting....
Europol believes that militants can potentially use cybercrime as a service from the darknet to launch attacks on European nations. Software as a Service (SaaS) has been around for a while until the Bitcoin revolution introduced Blockchain as a Service (BaaS). Thanks to both, now we have Cybercrime as a Service. The emerging threat as got Europol concerned. According to recent reports, the European law enforcement agency has expressed its concerns about the increasing availability of cybercrime services for hire on the darknet. These services, run by hackers can be easily hired by anyone....
The European Union's law enforcement agency, Europol, has stated, in its recently published report, that the use of Bitcoin in financing terrorist activities has not been confirmed. Despite the clear conclusion reached in this report, another EU bureaucracy arm, the European Commision, has only just come out with a comprehensive package to tackle "terrorist financing". It seems this proposal is more about tightening capital controls than "fighting terrorism," as digital currency economy accounts for only a tiny fraction of global money transfers. "To prevent their abuse for money....
Bitcoin is increasingly being used to pay for livestreams of child sex broadcasted over illicit Internet sites, according to a new Europol report. Produced by Europol's EC3 cybercrime centre, the report sheds new light on the commercial sexual exploitation of children online, while providing evidence that individuals with a sexual interest in children are becoming more entrepreneurial. "Live streaming of abuse for payment is no longer an emerging trend but an established reality", the report said. It continued: "There is a clear shift from traditional credit card payments to the ones....
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....