KANALCOIN NEWS – The Federal Bureau of Investigation (FBI) and the United States Department of Justice (DoJ) are reportedly preparing a new system to handle various criminal cases related to blockchain and cryptocurrencies.
In the United States Department of Justice (DoJ) audit report, the DoJ said that the condition of law enforcement agencies in dealing with crimes related to crypto currency and blockchain is currently in chaos.
According to the DoJ’s audit report released last Thursday (17/12/2020), as quoted by Kanalcoin.com from Cointelegraph, the DoJ is highlighting the darknet investigation process carried out by the FBI as an irony.
According to the DoJ’s audit report released last Thursday (17/12/2020), as quoted by Kanalcoin.com from Cointelegraph, the DoJ is highlighting the darknet investigation process carried out by the FBI as an irony.
The DoJ claims that the FBI’s efforts to solve cases related to the darknet have always been hampered by a series of decentralized practices, policies, and training programs. In addition, the DoJ also stated that the efforts being made by the intelligence services were currently considered excessive.
What the DoJ said refers to the finding that currently there are two separate teams working in the virtual currency sector. The two teams were assigned to assist in the investigation process regarding the dark web. The funds obtained by the two teams also came from the DoJ’s Asset Forfeiture Fund.
The existence of two teams working in the same field but separated is considered a wasteful effort. The work of the two was assessed as overlapping and ineffective. In fact, the two teams often had disagreements over the priority of resource allocation.
This was also due to rising costs and static funding from the DoJ’s Asset Forfeiture Fund. The Assets Forfeiture Fund itself gets their funds from the confiscation and sale of property and assets, including cryptocurrencies, originating from various criminal cases.
In their audit report, the DoJ recommended five solutions to the FBI to improve the FBI’s performance in terms of investigations related to darknet crimes. Most of the recommendations given by the DoJ relate to reducing the number of teams.
Thus, the FBI will not experience overlap in the investigation process carried out. The DoJ considered the centralized system capable of resolving the issue of ambiguous and overlapping investigative responsibilities.
In addition, the DoJ also asked the FBI to provide a specific schedule for the DoJ to receive feedback from the division that handles cases related to cryptocurrencies. Not only that, the DoJ asked the FBI to come up with a new strategy to resolve the case.
The FBI seems to have more work to do with this recommendation from the DoJ. The reason is, before getting recommendations from the DoJ, the FBI had to carry out new tasks after The Treasury’s Financial Crimes Enforcement Network required companies to ensure their customers had been KYC registered for transactions of more than $3 thousand.
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Author: Muhammad Zaki Fajrul Haq
Follow me at @mzfajrulhaq (Instagram) or @ZakiFajrul (Twitter).