Australian Fed Police After Criminals With New Crypto Enforcement Unit

The Australian Federal Police has set up a new cryptocurrency unit to target money laundering as more criminals seek to bypass the financial system and funnel money offshore.

The increased focus on illicit money transfer via crypto comes as the AFP eclipsed a $600 million revenue-raising target, after the taskforce set up to ensure crime does not pay for criminals reached its goal two years ahead of schedule.

“So we’ve now got a dedicated team that continues to grow.

Stefan Jerga from the Australian Federal Police.

“We’ve been very active working with the NDIA and Services Australia and other partners in terms of trying to counter that NDIS fraud and hold people to account,” he said.

Fraud against the government undermines the government’s ability to deliver services and support to Australians.”

Source: https://www.afr.com/companies/financial-services/australian-federal-police-forms-cryptocurrency-unit-to-hit-criminals-20220901-p5bejr