The Darknet Marketplace and Digital Currency Crimes Task Force is set to tackle crypto-enabled crimes not only in the United States.
Various US enforcement agencies have come together to declare their collaboration on digital currency and darknet-related crimes.
The Darknet Marketplace and Digital Currency Crimes Task Force, formally announced on June 20th, is expected to address significant "cryptocurrency-enabled crimes," including child exploitation, theft of personal data, money laundering, and drug trafficking.
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Key representatives from Homeland Security Investigations (HSI) Arizona, the Office for US Attorneys, the Internal Revenue Service Criminal Investigation, the Drug Enforcement Administration, and the Postal Inspection Service have pledged their commitment to this cause.
The new task force, solidified through a memorandum of understanding signed last week, aims to intensify authorities' existing efforts to tackle criminal activities. When declaring the task force's mission, the announcement read:
The Darknet Marketplace and Digital Currency Crimes Task Force’s mission is to disrupt and dismantle criminal organizations that exploit the appearance of anonymity on the darknet or use digital currency to facilitate criminal activities.
Since their collaboration started in 2017, these agencies have noticed an uptick in cryptocurrency usage in criminal activities. The newly formed task force isn't limited to borders. With HSI boasting 93 international offices in 56 countries, its reach is truly global.
This development reflects a global trend in law enforcement, with specialized units for crypto-related enforcement actions worldwide.
Interpol, for instance, established a crypto crimes unit just last year, while Canadian cities' police departments have started creating local task forces.
The resources for these law enforcement initiatives are substantial. According to estimates, an alarming $4 million has been swiped from users who fell prey to crafty crypto phishing scams promoted through Google Ads.
The formation of the Darknet Marketplace and Digital Currency Crimes Task Force underscores the critical role that united law enforcement agencies play in tackling the challenge of crypto-related crimes. The extent of the task may be daunting, but the collaborative efforts are already proving to be a significant deterrent.
