Expected Outcome:
Projects' results are expected to contribute to all of the following outcomes:
- The attractiveness of use of cryptocurrencies by criminals and terrorists is limited, with better tractability of cryptocurrency transactions;
- Lawful tools and methods for Police Authorities to better trace virtual currency transactions related to criminal activities;
- Recommendations are provided for better regulation of the cryptocurrencies market as well as for better regulation of the exchange of transnational information on funds transfers, harmonizing and promoting standards to enhance the tracing of money flows in the context of criminal investigations; and
- Modern training curricula for Police Authorities, Prosecutors, as well as judicial actors are developed on tracing, seizing and handling cryptocurrencies in the course of investigation.
Cryptocurrencies are a widely used method by criminals, including terrorists, to transfer or conceal funds due to their anonymity, ease of use and lack of international borders and restrictions (exactly same aspects that make use of traditional bank routes difficult for them). With the raise of crime-as-a-service market, and growth in the number of connected transactions, use of cryptocurrency as one of the money laundering typology better tracing of cryptocurrency transactions is crucial to keep the ground in the fight against crime and terrorism. On top of it
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