New Global Task Force Formed To Disrupt Crypto Scams, US Secret Service Leads
The US Secret Service announced a new international initiative aimed at combating crypto scams. In a press release issued on Monday, it was revealed that this week, law enforcement agencies from the United States, the United Kingdom, and Canada are collaborating on what they called “Operation Atlantic.” This joint effort is primarily focused on identifying […]
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In a new bipartisan initiative to regulate the cryptocurrency sector, Senators Elissa Slotkin and Jerry Moran have unveiled the “SAFE Crypto Act,” which aims to establish a federal task force designed to address the increasing risks associated with digital asset scams. New Task Force Proposed The SAFE Crypto Act seeks to create a comprehensive task […]
Regulators are addressing the growing threat of transnational cybercrimes in the financial industry. The United States faces a growing threat of transnational cybercrime, particularly against its financial system. In what may be the largest prosecution of its kind in U.S. history, the U.S. Department of Justice has charged Texas tech billionaire Bob Brockman in a 39-count indictment with evading $2 billion in taxes. The businessman used encrypted devices and code words to conceal his wire fraud, tax fraud and money laundering within a network of offshore entities and bank accounts. As the....
Shaun Bridges, the former Secret Service agent who pleaded guilty to stealing more than $800,000 in bitcoin while investigating Silk Road, is suspected in two other theft cases, according to a recently unsealed affidavit, Reuters reported. Bridges is believed to have stolen $700,000 of bitcoin from a Secret Service account three months after the agency was urged to remove his access to the account. The Secret Service did not move the funds, and later learned the funds were stolen. The theft was discovered after a court ordered the agency to pay claimants for their losses. The former Secret....
According to the New York Times, a Secret Service agent and a former member of the DEA will be indicted on charges of stealing bitcoins during the course of the Silk Road investigation. Silk Road criminal investigation leads to Bitcoin theft. Working undercover, former agents Carl Mark Force IV, who worked for the Drug Enforcement Administration, and Shaun Bridges, who worked for the Secret Service, will be facing charges for wire fraud, money laundering and stealing government property (Force only). The amount of bitcoins stolen is unknown, but apparently the seizure from Silk Road makes....
The task force has proposed new rules that would facilitate aggressive cryptocurrency tracing and tighter licensing requirements for businesses handling digital assets. Government and industry have teamed up to fight a major increase in ransomware, with a newly formed ransomware task force calling for new measures to more aggressively trace Bitcoin and crypto capital flows.The task force includes law enforcement including FBI and U.S. Secret Service agents working alongside representatives of leading security and tech firms.According to an April 29 report from Reuters citing anonymous....