UK’s National Crime Agency has formed a new crypto section

In the United Kingdom, the National Crime Agency is planning to establish a new “crypto cell” in order to combat crypto fraud.

After a year in which cryptocurrency thefts throughout the world totalled $3 billion, the National Crime Agency of the United Kingdom is now hiring a group of law enforcement agents to investigate crypto crimes.

According to a job advertisement posted on the government website, which was first reported by Financial News, investigators who work as part of the national cybercrime unit’s “crypto cell” “will be committed to a proactive cryptocurrency remit with the right tools and capabilities to target UK based subjects.” This statement was taken from the official description of the role.

The cryptocurrency was discovered to be the most common target of financial scams in the United Kingdom between March 2021 and April 2022, according to the findings of the Financial Conduct Authority (FCA). During that time span, the regulatory body started 432 investigations into possibly fraudulent activities using cryptocurrencies.

When Rishi Sunak was elevated to Prime Minister by members of the Conservative party in late October, there was speculation that this could mean that the United Kingdom was going to be on the path toward more crypto-friendly legislation under his leadership term. 

Also Read: Israel’s Financial Regulator Seeks Crypto Inclusion In Securities Legislation

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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