Law enforcement in Australia is working to boost cryptocurrency expertise and trace crypto transactions by setting up a dedicated police group.
The Australian Federal Police (AFP) has established a new cryptocurrency unit to focus on monitoring crypto-related transactions, The Australian Financial Review reported on Monday.
Stefan Jerga, the national manager of the AFP’s criminal asset confiscation command, said that the use of crypto in criminal activity had significantly increased since the AFP made its first crypto seizure in early 2018. In response , AFP decided to set up a dedicated crypto team in August, Jerga noted.
The increased focus on illicit crypto transactions comes amid AFP seizing a lot more criminal assets than the authority had originally expected. The AFP officially reported on Monday that it reached its goal of seizing $600 million from financial crimes two years ahead of schedule. The target was originally set by the AFP-led Criminal Assets Confiscation Taskforce...
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