Australia Will Have Its Own Crypto Police

Police Australia Crypto

✍️ 5 September, 2022 - 13:59 👤 Editor: Jakub Motyka

Australia has been experiencing for some time, like the rest of the world, an increase in cases of crimes related to cryptocurrencies. Sometimes it is simply scams that, instead of being charged in cash, are executed through related transactions with Bitcoin (BTC), Ethereum (ETH) and other altcoins.

In order to prosecute these cases, the Australian Federal Police (AFP) has announced the creation of a new police division specializing in cryptocurrencies. They will be in charge of prosecuting crimes in which cryptos are involved, whether or not they are one hundred percent related to the cryptocurrency market.

The Australian Federal Police (AFP) Creates A Division Of Cryptocurrencies

Stefan Jerga, the head of the economic crimes unit of the Australian Federal Police, has announced the creation of a new division of specialized cryptocurrency police. Its objective will be to facilitate the recovery of crypto money obtained through scams and other crimes, in view of the increase in this type of cases that are registered month after month.

Jargon has ensured that the use of cryptocurrencies in criminal activity has increased significantly since the first time the AFP seized this type of asset back in 2018.

They Will Prosecute Crimes Involving Cryptos

The creation of this new police unit will help the AFP to be more agile when it comes to recovering assets seized from criminals, "hitting them where it hurts the most" , ensures Jargon in the statements that accompany the announcement.

There is more and more money in cryptocurrencies being involved in crimes being committed around the world. In the case of the police authorities of Australia, they assure that of the 35 million dollars in assets that they have seized since February 2020, a part of it corresponds to cryptocurrencies. The rest, more than 580 million dollars, continue to be the classic means of money laundering: real estate, commercial premises, cash and bank accounts.

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Juan Pais

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