U.K.'s National Crime Agency to launch a new crypto-focused unit focused on combating digital asset fraud

Article by Jordan Finneseth - Source: Kitco News

Image Source: Pixabay

The United Kingdom’s National Crime Agency (NCA), which focuses on tackling organized crime, has revealed its intentions to form a new cryptocurrency unit dedicated to investigating cyber incidents that involve the use of cryptocurrencies.

The National Cyber Crime Unit (NCCU), which is the cyber arm of the NCA, will be launching the NCCU Crypto Cell, a unit that will initially be comprised of five officers who will focus on performing “proactive cryptocurrency remit,” according to a report by Financial News.

To help get the new unit started, the NCA posted a civil service job posting that provides details about the new “Cryptocurrency Investigator” position. According to the posting, the role will “support existing and new investigations where specialist cryptocurrency experience is required along with taking a proactive lead in identifying targets for further development.”

The list of responsibilities for applicants includes providing strategic and tactical advice to crypto investigations, developing a strong understanding of the crypto industry and relevant stakeholders, identifying and recovering seed phrases, having certified training experience in cryptocurrencies, and the ability to conduct advanced tracing through blockchains.

The new position offers an annual salary between 40,200 British pounds ($48,200) and 43,705 pounds ($52,400), and interested candidates have until Jan. 10 to apply for the opening.

This move by the NCA comes amid a rise in crypto fraud in the U.K. and calls by the government to eliminate dirty money in the country.

In October of 2022, the National Police Chiefs' Council announced that it would be stationing "crypto tactical advisers" in police departments across the country. According to National Police Chiefs’ Council detective chief superintendent Andy Gould, all police forces in the U.K. have now been trained to conduct investigations involving the enforcement and seizure of crypto.

In November, U.K. lawmakers voted in favour of a law that expands the power of local authorities to seize, freeze and recover crypto assets, which have been increasingly used by organized criminals to launder profits from fraud, drugs, terrorist activities and cybercrime.

Article by Jordan Finneseth - Source: Kitco News

Disclaimer: This Article is provided for informational purposes only and not offered or intended to be used as legal, tax, investment, financial, or any other advice.