IRS Criminal Investigation Division calls out crypto-related cybercrime as one of its top initiatives

Quick Take

  • Within the IRS Criminal Investigation Division’s (CI) annual report, they highlight cryptocurrency-related cybercrimes as one of their key priorities for the year
  • Budget cuts have reduced the number of cases the CI unit can take on (cases initiated per year down 53% since 2013)
  • However, blockchain analytics tools provided by companies such as Chainalysis have helped crack notable cases recently such as the shut down of Welcome to Video, one of the largest child pornography websites
  • CI Chief Don Fort notes that there are currently many open cryptocurrency-related cases that could be made public by sometime next year

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IRS Criminal Investigation Division calls out crypto-related cybercrime as one of its top initiatives written by Matthew Yamamoto @ https://www.theblockcrypto.com/genesis/49675/irs-criminal-investigation-division-calls-out-crypto-related-cybercrime-as-one-of-its-top-initiatives?utm_source=rss&utm_medium=rss December 9, 2019 Matthew Yamamoto

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