The FBI is responsible for investigating crimes involving cryptocurrency in the U.S. Federal data shows that this form of virtual currency is being used in illegal activities.
This factor may increasingly hinder federal law enforcement’s efforts to prevent and discover these crimes. Learn more about cryptocurrency crimes by speaking with our experienced criminal defense attorneys today.
A range of serious and violent crimes are associated with cryptocurrency, some committed by well-organized, multinational groups. These types of offenses include the following:
Peer-to-peer mobile payments and online marketplaces are used for trading illegal goods and services, often on the “dark web.” While digital tokens, like cryptocurrency, have no intrinsic value and are not considered legal tender, they can be bought and sold for whatever the users believe they are worth.
Cryptocurrency transactions are permanently recorded on blockchains. Law enforcement can analyze transactions using these publicly available ledgers. However, as digital currency allows overseas transfers and exchanges, the FBI may eventually encounter challenges tracking cryptocurrency in other jurisdictions, especially countries with loose laws and regulations.
Therefore, agents must collaborate with domestic and international agencies, as well as private sector groups, to identify criminal activity. These transactions can be somewhat anonymous, making detecting the user more challenging. This is why the agency may also utilize online undercover tactics to gather information and target perpetrators.
If you are a victim of a crime involving cryptocurrency, you should contact your local police department to make a report. The next step is to submit a complaint to the FBI through its Internet Crime Complaint Center’s website. Even if you did not experience a financial loss, the details you provide could aid in the agency’s investigation by linking seemingly unrelated criminal activities.
Ellis Hinton’s legal team provides the small-firm feel clients love from our Greenville-based location. We service clients in South Carolina and beyond; contact us today to learn more about cryptocurrency crimes. Our attorneys have experience as federal and state prosecutors, and we never make promises we cannot keep.
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