Australian Federal Police Forms Cryptocurrency Unit Focused on Tracking and Seizing Funds

“It’s targeting assets, but it’s also providing that valuable, investigative tracing capability and lens for all of our commands across all of our businesses, whether they’re national security-related, child protection, cyber – or the ability to trace cryptocurrency transactions across the relevant blockchains is really, really important.”AFP Commissioner Reece Kershaw established the criminal asset confiscation command in February 2020 with the goal of restraining $600 million in proceeds of crime by the end of financial year 2024.Since February 2020, the AFP has seized $380 million in residential and commercial property, $200 million in cash and bank accounts, and $35 million in cars, boats, aircraft, artworks, luxury items and cryptocurrencies.

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