The Intersection of the Criminal, Law Enforcement and Technology Industries
February 26, 2016
A ZDNet article covers Arrests made over Bitcoin laundering scheme, Dark Web drug deals
Dutch police made several arrests related to laundering of criminal profits orchestrated through an unindexed section of the web called the Dark Web. The article says suspects allegedly laundered up to 20 million euros from online drug deals. With the information originating from Reuters, this article summarizes the arrests made by Dutch Fiscal Information and Investigation Service and public prosecution department:
“According to the publication, some of the men arrested are traders, while others are “Bitcoin cashers” — traders of Bitcoin online who cash these funds then withdraw money from ATMs. It is possible to find cashers online who run shadow services which exchange “dirty” coins for clean currency. Law enforcement in the United States, Australia, Lithuania and Morocco also participated in the raid.”
Just as criminal offenses are taking place increasingly online, so too must the law enforcement industry have turn to technology to aid its efforts. As the case unfolds, it will be interesting to uncover how these suspects were identified. Perhaps something innovative will be at the source.
Megan Feil, February 26, 2016