Klever
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
  • Login
  • Register
Klever News
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
Klever News
Home Global
Australian Federal Police Forms Crypto Unit to Trace Cryptocurrency Transactions

Australian Federal Police Forms Crypto Unit to Trace Cryptocurrency Transactions

by BitDegree
September 6, 2022
in Global
Reading Time: 2 mins read
3k
A A
0
Share on FacebookShare on Twitter

AFP takes additional measures to prevent money laundering using cryptocurrencies. 

Australian Federal Police (AFP), the principal and federal law enforcement agency of the Australian Government, opened a cryptocurrency unit to target money laundering by tracing crypto transactions. 

According to the news report shared by the Australian Financial Review, the decision was largely influenced by the fact that criminals started using cryptocurrency more prominently in their financial crimes. 

You might also like

K5: a bright future ahead with the community being the biggest inspiration 

K5: a bright future ahead with the community being the biggest inspiration 

February 3, 2023
7.3k
Klever is your go-to DeFi solution 

Klever is your go-to DeFi solution 

February 1, 2023
7.3k

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

The national manager of the AFP’s criminal asset confiscation command, Stefan Jerga, noted that due to this reason, AFP decided that a specialized unit will be more valuable than officers picking up the skills as they go. 

Jerga highlighted that although the unit will focus on tracing digital assets, it will also provide valuable insights about tracing transactions in other investigations. 

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.

On September 5th, Australian Federal Police reported that they managed to seize more than $600 million in criminal assets. The AFP received the order from Commissioner Reece Kershaw to collect the specified amount in five years. However, AFP managed to do it in three years. 

Based on the report, the AFP-led Criminal Assets Confiscation Taskforce (CACT) has collected $380 million in residential and commercial properties, $200 million in cash and bank accounts, and $35 million in cars, boats, aircraft, cryptocurrency, artwork, and other luxury items. 

Although the seized assets in cryptocurrencies are only the minority, Australian Federal Police expects the newly established crypto unit to provide more insights into the amount exploited in cryptocurrencies. 

In other news, The Australian Treasury is taking action to impose crypto regulations. The Parliament members Jim Chalmers and Dr. Andrew Leigh stated that the Government is ready to take action to create a framework for crypto regulations and expects to launch it by the end of 2022. 

Aaron S. - Expert Reviewer

by Aaron S. – Expert Reviewer, BitDegree


This article was originally published in Bitdegree and can be viewed here:

https://www.bitdegree.org/crypto/news/australian-federal-police-forms-crypto-unit-to-trace-cryptocurrency-transactions

Tags: Bitdegree
Previous Post

Russia to Use Crypto for International Payments

Next Post

Poolin Halts Withdrawals Referring to Liquidity Problems

BitDegree

BitDegree

Related Stories

K5: a bright future ahead with the community being the biggest inspiration 

K5: a bright future ahead with the community being the biggest inspiration 

by Maluh Bastos
February 3, 2023
0
7.3k

Klever K5 Wallet’s launch has been the buzz in the last few days. The new and improved Klever Wallet app...

Klever is your go-to DeFi solution 

Klever is your go-to DeFi solution 

by Maluh Bastos
February 1, 2023
0
7.3k

The DeFi world is growing fast. Therefore, having a trustable and effective platform to navigate this universe can help users...

Time to start using K5: learn how to migrate to the new Klever wallet app version

Time to start using K5: learn how to migrate to the new Klever wallet app version

by Maluh Bastos
January 31, 2023
0
7.3k

KleverChain’s launch in 2022 was one of the biggest accomplishments for the Klever Ecosystem.  Klever’s very own blockchain is bringing...

Use cryptocurrency and blockchain for transparent and secure voting

Use cryptocurrency and blockchain for transparent and secure voting

by Warren Manuel
January 30, 2023
0
7.3k

The integrity of democratic voting systems is crucial for the functioning of a healthy democracy. In recent years, there has...

Next Post
Poolin Halts Withdrawals Referring to Liquidity Problems

Poolin Halts Withdrawals Referring to Liquidity Problems

Binance to Cease the Support of USDC, USDP and TUSD

Binance to Cease the Support of USDC, USDP and TUSD

Please login to join discussion
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recommended

Ethereum

Coin of the Week: Ethereum (ETH)

November 14, 2021
7.5k
Tron (TRX)

Coin of the Week: Tron (TRX)

May 19, 2022
7.5k

Popular Story

  • Stand a chance to win your share of 10,000 KLV

    Stand a chance to win your share of 10,000 KLV

    8335 shares
    Share 3334 Tweet 2084
  • Test drive Klever Wallet, K5 and Win 1000 KLV & 1 KFI

    7021 shares
    Share 2808 Tweet 1755
  • Bitcoin battles back from record losses to $21,000

    5914 shares
    Share 2366 Tweet 1479
  • Klever showcases its blockchain ecosystem on a Time Square billboard

    5358 shares
    Share 2143 Tweet 1340
  • K5 adds new blockchain and KleverSafe support in the latest Android version

    5070 shares
    Share 2028 Tweet 1268

Follow us on Twitter

Klever News

Join the Klever community
Growing together we are stronger.
Be sure to follow us on social media to stay up to date.

Categories

  • Announcements
  • Coin of the Week
  • Education
  • Exchange
  • Games
  • Global
  • Hardware Wallet
  • Market Updates
  • NFTs
  • Opinions
  • Sponsored
  • Wallet
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recent News

K5: a bright future ahead with the community being the biggest inspiration 

K5: a bright future ahead with the community being the biggest inspiration 

February 3, 2023
Klever is your go-to DeFi solution 

Klever is your go-to DeFi solution 

February 1, 2023
  • Sponsored Content
  • Advertise
  • Contact Us
  • RSS Feed

© 2022 Klever News - Premium Crypto news & insights by Klever Finance.

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version