The United Kingdom’s National Crime Agency (NCA) has taken a significant step in combating crypto-related crimes by announcing its plan to hire two blockchain investigators. These investigators will be joining the newly established Digital Assets team, operating within the Complex Financial Crime Team (CFCT).
NCA’s Aim of Creating the Team
The decision to create this specialized team comes as digital assets and cryptocurrencies continue to gain popularity, alongside an increase in associated criminal activities. Moreso, the NCA recognizes the importance of staying ahead of the curve to effectively address these emerging challenges in the financial crime landscape.
Per the agency, the ideal individual must be an existing member of the police staff and must have experience in blockchain analysis, criminal investigation, amongst other relevant experiences. As such, the candidate must be a certified, accredited financial investigator (AFI). Meanwhile, the job comes with a mouth-watering salary of approximately 47,380 pounds, which is about $61,076.37, aside from other civil service incentives.
Main Objectives of the Digital Assets Team
Notably, the main purpose of the Digital Assets Team will be to investigate and tackle crimes involving cryptocurrencies. As blockchain technology becomes an integral part of financial transactions, it has also been exploited by criminals for illicit activities, including money laundering, fraud, and cyber attacks.
By dedicating resources specifically to this area, the NCA aims to enhance its capabilities in identifying and disrupting criminal networks operating within the cryptocurrency space. Likewise, the recruitment of blockchain investigators signifies the NCA’s commitment to harnessing specialized expertise to navigate the complexities of blockchain transactions and tracing illicit funds in digital currencies.
Furthermore, these investigators will play a crucial role in unraveling the intricate web of crypto crimes, utilizing their expertise in blockchain analysis to track and apprehend offenders involved in illicit activities.
U.K Watchdog Opens New Crypto Unit
As the adoption of cryptocurrencies continues to grow, it has become imperative for law enforcement agencies to adapt and equip themselves with the necessary tools and skills to effectively combat financial crimes in the digital realm.
Recall that earlier in the year, the crypto arm of the UK’s NCA opened a new office committed to fighting crimes and criminals involved with cryptocurrencies like Bitcoin (BTC) and others. The new team dubbed National Cyber Crime Unit (NCCU) Crypto Cell is a strategy for the watchdog to expand its vigilance on the crypto ecosystem in the United Kingdom.