United Kingdom hiring investigators to tackle crypto fraudsters
The UK’s National Crime Agency is to hire Digital Assets Cryptocurrency Financial Investigations Managers to combat escalating crypto-related crimes. In the last year, there has been an increase in crypto-related schemes, with many residents falling victim.
Tackling crypto crimes
As a result, the National Crime Agency (NCA) in the United Kingdom is looking for experienced crypto detectives to tackle crypto-related crimes. The role of Cryptocurrency Financial Investigations Manager (CFIM) necessitates specialized skills and knowledge of crypto transactions. In the United Kingdom, the NCA’s Investigations Directorate is critical in the fight against crime. They target illegal activities that are beyond the jurisdiction of other law enforcement organizations by using an intelligence-led strategy. Its main goal is to safeguard the people and ensure national security by tackling serious and organized crime. These detectives will be responsible for dismantling organized crypto crime organizations that prey on unwary investors, working closely with the broader law enforcement community.
Crypto crimes plaguing UK residents
According to a November 2022 report from the UK’s law enforcement authorities, the crypto crime rate increased by 32% from 2021.
A UK couple fell prey to fraud in May, culminating in a £45,000 debt. The thieves impersonated Martin Lewis, a well-known financial guru recognized for his consumer rights and money-saving advice, and used his name to make their fraudulent actions appear legitimate. To address the growing issue of fraudulent crypto practices, the UK’s Financial Conduct Authority (FCA) proposed new laws in June 2023.
The rules require cryptocurrency companies to incorporate risk warnings in their ads and to provide new investors with a “cooling off” time. The FCA intends to strengthen consumer protection in cryptocurrency and guarantee that potential investors are fully informed about the risks involved.
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