Australian Federal Police Forms Cryptocurrency Unit Focused on Tracking and Seizing Funds

Australian Federal Police Forms Cryptocurrency Unit Focused on Tracking and Seizing Funds
  • “It’s targeting assets, but it’s also providing that valuable, investigative tracing capability and lens for all of our commands across all of our businesses, whether they’re national security-related, child protection, cyber – or the ability to trace cryptocurrency transactions across the relevant blockchains is really, really important.”
  • AFP Commissioner Reece Kershaw established the criminal asset confiscation command in February 2020 with the goal of restraining $600 million in proceeds of crime by the end of financial year 2024.
  • Since February 2020, the AFP has seized $380 million in residential and commercial property, $200 million in cash and bank accounts, and $35 million in cars, boats, aircraft, artworks, luxury items and cryptocurrencies.

https://www.afr.com/companies/financial-services/australian-federal-police-forms-cryptocurrency-unit-to-hit-criminals-20220901-p5bejr
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