A recent US Department of Justice review of FBI practices with regard to criminal investigations on the darknet concluded that police authorities are confused – and an overarching “cryptocurrency support strategy” may be among the solutions.
According to an unclassified version of the review released on Thursday, the FBI’s ongoing attempts to investigate the nightmare – perhaps ironically – are limited to a set of “decentralized” practices, policies, and training programs, as well as fragmented intelligence that leads to a “redundancy” of efforts. . …
In particular, the review found that there are two different sets of virtual currencies that aid in the dark search online, both of which are funded by the Department of Justice’s Asset Confiscation Fund. In addition, “the increased costs and steady financing from the Asset Confiscation Fund led to disagreements between the two virtual currency teams over resource priorities,” and many saw the two teams doing double duty.
The Asset Confiscation Fund receives some funding from the seizures and sales of property and assets, including cryptocurrencies, related to criminal investigations.
The Ministry of Justice made five recommendations to improve the investigation and the Dark Internet policy, many of which focus on centralizing procedures to reduce “vague or double investigation responsibilities.”
This includes a recommendation to “develop a timeline to obtain feedback from the remaining FBI entities and complete the development of a strategy to support cryptocurrencies through the FBI,” and the report indicated that this timeline is soon.
The Department of Justice recommendations come at a time when the FBI may soon have more work on the new regulations. The Treasury’s Financial Crimes Network recently proposed new rules requiring customers to exchange “Know Your Customer” for transactions in excess of $ 3,000.