Australian Federal Police(AFP) has established an anti-money laundering unit with cryptocurrencies.
The Australian Police has set up a unit to tackle crypto crimes.
Australian Unit to Combat Money Laundering with Crypto
The newly formed unit of the Australian police will focus on money laundering. AFP’s national director for the seizure of criminal assets Stefan Jerga said that the use of crypto in criminal activities had increased before AFP began its first studies in early 2018. He expressed the need for AFP to establish a capable cryptocurrency in order to prevent this increase.
Jerga said on the subject:
“The environment was such that we felt a talented team was needed rather than a large number of officers taking on some part of the job. Currently, we have a team that continues to grow and develop.”
Jerga continued:
“The Team targets Assets, but it also provides invaluable investigative monitoring capability and insight into all our commands across all of our businesses, whether it be the ability to monitor national security related, child protection, cyber or cryptocurrency transactions.”
