There is a rise in crypto crimes as the industry is evolving rapidly and it is hard to trace each crime with existing criminal agencies. To tackle this problem and protect investors, the UK has decided to form a team that handles crimes related to digital assets.
The National Crime Agency of the United Kingdom intends to hire four senior investigators who will lead the Complex Financial Crime Team to tackle crypto-related crimes.
This team will investigate money laundering done via crypto, crypto fraud, and other crimes related to digital assets. It will be the team working with many experienced agencies to trace criminals faster and seize their assets.
This team will work with another analysis team to track the crimes. They expect professional teammates who are equal to government qualifications and can investigate crimes. The UK has been working on establishing a crypto-focused team that can track down crypto crimes.
There was a need for this team because there was a huge increase in crypto crime and many investors had lost a huge amount. In 2022, crypto scammers stole $287 million, according to the UK’s report.