U.S. IRS Sends Investigators Globally to Combat Cryptocurrencies, DeFi Crime

Dispatch investigators to four continents around the world

The U.S. Internal Revenue Service (IRS) Criminal Investigation Service will be stationed in various regions of the world from June 18 to combat tax evasion and cybercrime using crypto assets (virtual currencies) and decentralized finance (DeFi). He announced that he would send an officer.

It also addresses crime, tax evasion, and more using peer-to-peer trading and mixing services.

The four resident officers will have advanced expertise in cybercrime investigations and will go to Australia, Colombia, Germany and Singapore respectively. It will operate on four continents: Asia, Europe, South America, and Australia.

IRS Criminal Investigative Director Jim Lee explained the significance:

To effectively combat cybercrime, we need to ensure that foreign agencies working with the IRS have access to the same tools and expertise as the United States.

This summer, we will deploy four highly skilled Special Agents to strategic locations on four continents to continue to build relationships with our local partners so that we can effectively fight cybercrime on a global scale.

This dispatch is temporary, and the program is scheduled for 120 days from June to September.

Investigators sent to Colombia have experience in investigations such as money laundering and identity theft. Investigators who go to Germany are specialists in computer-assisted investigations. The investigator in charge of Australia has overseen criminal investigations into cryptocurrency tax evasion, money laundering and more.

The investigator sent to Singapore has a history of conducting investigations into money laundering, darknet, financial crimes and fraud related to cryptocurrency exchanges.

Due to the cross-border nature of virtual currencies, the need for international cooperation in criminal investigations has been advocated.

The IRS is strengthening its investigation system for cryptocurrencies, including the establishment of a “cybercrime identification service office” in 2021.

What is the IRS (Internal Revenue Service)?

A government agency of the United States. An organization within the U.S. Treasury Department that primarily enforces and collects federal taxes. In Japan, it corresponds to the National Tax Agency.

Cryptocurrency Glossary

Provide training to Ukraine

The IRS’s Criminal Investigations Division is also providing blockchain analysis tools and cyber training to Ukrainian authorities. The main purpose is to prevent the use of virtual currency to circumvent sanctions by Russia’s new oligarchs, which are subject to economic sanctions.

The IRS is working with blockchain analytics firm Chainalysis on this training. Chainalysis CEO Michael Gronager commented:

From accepting donations to ransomware attacks and sanctions evasion, cryptocurrencies are playing an unprecedented role in Ukraine, both good and bad.

We support the IRS’ efforts to provide Ukrainian law enforcement agencies with data, tools and training to detect and investigate illegal blockchain activity.

The Ukrainian government is also known to have received donations in cryptocurrencies and NFTs (non-fungible tokens) since the start of the Russian invasion.

connection: Ukrainian government launches NFT donation site

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