Conclusions from Global workshop for financial investigators on detection, investigation, seizure and confiscation of cryptocurrencies

On 15 and 16 January 2018, Europol, INTERPOL and the Basel Institute on Governance jointly organised in Basel, Switzerland, a workshop for financial investigators on the detection, investigation, seizure and confiscation of cryptocurrencies. The event was attended by more than 60 financial investigators from money laundering, cybercrime and financial intelligence units from 32 different countries, together with experts in asset recovery and relevant private sector representatives.


At the end of the workshop, participants agreed upon a set of conclusions, which included:

• Increase information sharing in the field of money laundering and digital currencies through the use of channels such as Europol, INTERPOL, the Egmont Group and FIU.net.
• Regulate digital currency exchangers and wallet providers under current anti-money laundering and counter-terrorism financing legislation in line with obligations already pending with the financial sector.
• Agree on a clear definition of concepts such as cryptocurrencies, digital currency exchanger, wallet provider and mixer for them to be included in the EU legal framework.
• Take action against digital currency mixers/tumblers, designed to anonymise transactions, which burdens the work of law enforcement agencies to detect and trace suspicious transactions.       

For more read on at:
 https://www.europol.europa.eu/newsroom/news/global-workshop-for-financial-investigators-detection-investigation-seizure-and-confiscation-of-cryptocurrencies