Jez Rogers on LinkedIn: Amongst all the doom and gloom, especially aimed at Policing, Law… (2024)

Dhruvil Shah, SVP Technology at Liminal Custody Solutions shares perfect strategy to safely store your digital assets.He spoke to Anirudh Trivedi from Republic WorldSafe storage of digital assets is important to protect them from loss, theft, and unauthorized access. There are a number of different ways to store digital assets, and the best method for you will depend on your individual needs and circ*mstances.#Selfcustody #digitalassetmanagement #coldwallets #hotwallets

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Well, if you are someone who is keeping your cryptos right in your exchange, this is the piece you should read. Talked to market experts from Mudrex, WazirX, CoinSwitch, and Liminal Custody Solutions to know what they think about the right way to store your crypto. #Crypto #WazirX #Bitcoin #ETH #CryptoMarket

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Jonathan Crompton speaks to Financial Times about the surging numbers of crypto fraud victims in Asia and how lawyers, accountants and industry players are joining forces in CFAAR (Crypto Fraud and Asset Recovery Network) to help them reclaim stolen assets. 💰#HongKong #Crypto #DigitalFraud #CryptoFraud #CryptoRPC #DigitalFraud #Fraud #CFAAR

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Senators Ted Budd and Kirsten Gillibrand are collaborating on a new bill aimed at increasing national security efforts with regards to financial technology. The Financial Technology Protection Act of 2023 calls for the creation of an Independent Financial Technology Working Group focused on researching potential links between cryptocurrency and terrorism. The group will propose measures to improve anti-money laundering and counterterrorist financing efforts, ultimately helping to combat illicit financing activities.The new group will investigate and recommend strategies to combat the use of digital assets for terrorism financing and sanctions evasion. As part of their mandate, the group will submit annual reports to Congress outlining their findings and recommendations.#technology #nationalsecurity #tech #cryptocurrency #finance https://lnkd.in/escpf3fShttps://lnkd.in/eKqevhdH.Bill: https://lnkd.in/eiAz3zh2

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Today, the Dept of the Treasury/Financial Crimes Enforcement Network (#FinCEN) issued analertto highlight a prominent virtual currency investment scam known as “pig butchering.” Victims in the U.S. have lost billions of dollars to these scams and other virtual currency investment frauds.“#PigButchering” #scams resemble the practice of fattening a hog before slaughter. Victims invest in supposedly legitimate virtual currency investment opportunities before they are conned out of their money. FinCEN's alert explains the scam’s methodology; provides behavioral, financial, and technical red flags to help financial institutions identify and report related suspicious activity; and reminds financial institutions of their reporting requirements under the #BankSecrecyAct.

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Justice was served. Sam Bankman-Fried has been found guilty on all charges. He will be remanded in jail until his sentencing in March. The accusations carry up to 115 years of jail, and he still has to go through another trial for a different crime.His co-conspirators must be shaking in their shoes. His parents did not take it well, like any parents would... IMO they also benefited from his generosity. They are not done with the pain themselves.Many high-flyers don't believe that Justice can reach them... until Justice does. The process is gruesome. The landing is painful. Mr. Bankman Fried's current jail is known for its rats, its heat, and its insalubrity. His new home, where he will likely stay until death, may not be much better. He can look forward to a small dirty cell and to being surrounded by violent individuals for many decades to come, with little chance of parole. He will not have access to a computer; this is his biggest fear. There is no need to commiserate with him. His victims have lost $8bn altogether, a staggering amount of money. He has squandered it needlessly. That pile is the retirement savings of some, the chance of a better life for many, and the fruits of years of labor for virtually all. They will suffer much more than him.#Cryptocurrencies #Enforcement #Fraud #MoneyLaundering #ManyPeopleWereHarmed Navesink International (https://lnkd.in/eq8vGgP) is the home of the best industry experts related to financial markets.

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The Dark Night Online | XRP RIPPLE - watch out for an emerging trend of criminal funds conversion to RIPPLE and use of ChangeNOW exchange. Criminals are always ahead on trend. Rats leave sinking ships and go where best meals are. Criminals believe there is a meal to be made on XRP. If you are processing cases join TDNO PROACT TASK FORCE and we will share insights to assist evidence processing for criminal and civil prosecutions. Sign up to www.thedarknight.online and use SUPPORT to message JOIN PROACT. SCAN XRP https://xrpscan.com/Where are criminals sending XRP? CHANGE NOWCHN Group LLC., a company incorporated in Saint Vincent and the GrenadinesRegistered address in Saint Vincent and the Grenadines: Euro House, Richmond Hill Road, Kingstown | Postal Address: Newtonlaan 115, Utrecht, 3584 BH, Netherlandshttps://changenow.io/about

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How does one fight immutable stupidity?The Financial Times reports:"For lawyers in Hong Kong, addressing fears over the potential for digital assets to enable scams and fraud is a key concern. They are also helping the territory’s Securities and Futures Commission tread the fine line between protecting investors and allowing crypto groups enough freedom to make the city attractive as a base....In September, just before Hong Kong launched a high-profile crypto push, RPC’s Crompton became a founding committee member of the territory’s Crypto Fraud and Asset Recovery Network. This group brings together lawyers, accountants and industry players to raise awareness of crypto fraud in Asia. The lawyers also seek to help victims to reclaim their stolen assets."How hard is that?"That second task is more difficult, says Crompton. In traditional finance, “you tend to know who the bad guys are”, he notes. But crypto fraudsters employ aliases to hide their identities and digital wallets used to store defrauded cryptocurrency are usually anonymous. Additionally, crypto exchanges often fail to react to legal letters notifying them of suspicious activity whereas traditional banks generally would, points out Crompton. “I don’t think it’s right to say that exchanges don’t understand,” he says. “A lot of the bigger [crypto] exchanges have very good lawyers in them. I think they’re just overwhelmed with the number of letters they’ve received.”"I suppose that's one way to look at it. Others would say they are simply non-compliant."In theory, courts can require exchanges to reverse transactions. But there is a lack of precedent in completing that process and it can be technically difficult or impossible to force the return of cryptocurrencies."Technically that is not reversing a transaction per se as much as returning crypto deposited with an exchange to a fraud victim. Reversals are well nigh impossible (but not actually so) on the blockchain: https://lnkd.in/gimYzxE. Which means you must wait till your stolen/defrauded crypto reaches a recognisable intermediary before you even stand a chance of recovery."Also, many victims of crypto fraud are already short of funds, meaning most clients are unwilling or unable to take cases to their conclusion."Not only that. Typically, the only ones who are willing to spend on lawyers and crypto forensic analysts are those who have lost a LOT of crypto: think millions in crypto. Anything less and its not as feasible a gamble to spend more money with little assurance of recovery. As Timothy Chan and I explained (https://lnkd.in/g-MHGZVR):"Many ... victims who have been defrauded of more modest sums cannot justify such expenses."I fear that that balance will be hard to find, if not practically impossible. Immutable stupidity is, after all, immutable.https://lnkd.in/g7kMS-g2

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BLOG: The rising trend of child financial exploitation. 📈 We speak to Emma, a Project Worker helping young people who are at risk of, or experiencing, exploitation.Child financial exploitation is a form of abuse. It occurs when an individual or group takes advantage of an imbalance of power to encourage or force a child under 18 to undertake a financial activity that benefits the perpetrator or facilitator. The perpetrator(s) might coerce, control, manipulate, or deceive the young person. This activity is often criminal and therefore is a form of child criminal exploitation. It includes but is not limited to money laundering and wider fraud.What can you do about it? 👇Reframe your language. Dehumanising language risks reinforcing negative narratives and stereotypes of child victims as offenders. For example, ‘money mule’ focuses the conversation entirely on the person’s actions and ignores the complexity of the situation and the child’s exploitation.Be professionally curious and consider all forms of exploitation when observing indicators. #LookCloserListen out for slang terms that children or others might use. Ensure you respond to signs of child financial exploitation as a safeguarding concern, recognising it as exploitation and abuse. Always report your concerns and follow your usual safeguarding policy including responding to and reporting financial exploitation as a form of modern slavery. https://lnkd.in/e3BFzFtu

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How can public and private sectors combat crypto crimes such as scams? Chengyi Ong, Head of APAC Policy, Chainalysis, shares more on the importance of information sharing and why it "needs to take place on three dimensions.” Read more 👉

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