The USA Immigration and Customs Enforcement (ICE) has revealed the existence of a Cryptocurrency Intelligence Program (CIP) within the company’s 2021 budget proposal.
The proposal states that the CIP seeks to establish unlicensed capital flows happening throughout peer-to-peer (P2P) marketplaces, on-line boards, and darknet markets. The CIP was developed by ICE’s Bulk Money Smuggling Heart (BCSC).
“The BCSC has developed a Cryptocurrency Intelligence Program (CIP) which identifies unlicensed cash providers companies within the type of unbiased cryptocurrency brokers’ use of peer-to-peer (P2P) websites, on-line boards and labeled ads, and darknet markets (DNM) to interact in unlicensed cash providers companies (MSB) exercise.”
ICE targets cash laundering and opioid trafficking on the darkish net
ICE states that “a big portion” unlicensed MSBs working with cryptocurrency on darknet markets and P2P marketplaces are engaged within the laundering of narcotics proceeds.
The company provides that it has elevated its coaching and cyber analytics capabilities for “cyber investigations focusing on darknet illicit marketplaces the place fentanyl and chemical precursors are sometimes bought.”
Darknet markets have been a goal of quite a few ICE enforcement actions in recent times, with ICE brokers receiving “superior darknet coaching” since no less than September 2019.
ICE partnered with the U.S. Drug Enforcement Administration in mid-2017 to conduct a year-long nationwide investigation focusing on darknet distributors, resulting in over 35 arrests. ICE additionally executed a week-long internationally coordinated motion throughout October 2016.
France and Austria collaborate on blockchain forensics
The revelation of ICE’s Cryptocurrency Investigations Program amid rising efforts to crack down on darknet exercise globally.
On Feb. 25, the government-owned Austrian Institute of Know-how introduced it had partnered with French blockchain safety firm NIGMA Conseil to collaborate on blockchain forensics.
The businesses are working to supply blockchain forensics providers to governments and companies, together with darkish net scraping and pockets clustering.