.TheJusticeDept's head of crypto enforcement has promised a crackdown on illicit behaviour on trading platforms, according to a report. By JamieCrawleyCD.
Eun Young Choi, director of the National Cryptocurrency Enforcement Team , said the DOJ is targeting crypto exchanges that allow"criminal actors to easily profit from their crimes and cash out," as a means of fighting crypto crime which she said has grown"significantly" in the last four years.
Choi added that the department's focus is on businesses that sidestep anti-money laundering or know-your-customer rules or who do not engage in thorough compliance and risk mitigation. "We hope that by focusing on those types of platforms, we're going to have a multiplier effect," she said. The NCET also aims to bring more enforcement actions against investment scams, which Choi describes as"pig butchering" schemes, after a Chinese phrase referencing fattening pigs for slaughter, which involve scammers building relationships with victims over a period of months.. The Federal Bureau of Investigation has estimated that $3.31 billion was stolen from people through investment fraud in 2022, with crypto-related scams accounting for over $2.5 billion of that figure.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
More money or more enforcement: Biden and GOP debate border fixesThe Biden administration and House Republicans are pointing fingers at each other over immigration, with money a key sticking point.
Read more »
Southern California law enforcement agencies still in grips of staffing crisisMost agencies are experiencing a decline in those who want to be police officers and an acceleration in those retiring early or resigning altogether, says a national expert.
Read more »
Celebrate law enforcement during National Police Week from May 14 to 20Try organizing with your friends and family this year to show how much you appreciate your local police department and their service during National Police Week.
Read more »
Immigration law enforcement as Title 42 public health order endsThe Biden administration says the COVID-era Title 42 will be replaced by enforcement of Title 8, which carries the potential for criminal prosecution, deportation and a five-year ban on re-entry.
Read more »
DOJ says Biden administration will appeal judge's rulings on migrantsThe Biden administration also wants its policy to go forward while the appeals process plays out.
Read more »
DOJ, Bureau of Prisons honor fallen corrections officersWASHINGTON — (WASHINGTON) -- Leaders from the Department of Justice and the Bureau of Prisons gathered on a rainy Tuesday morning in Washington to honor the sacrifice and service of fallen federal correctional officers during National Correctional Officers Week.
Read more »