U.K. National Crime Agency Plans to Expand Crypto Fraud Agency

Following the rise in crypto-related scams in the U.K., the authorities have been exploring measures to keep illegal crypto activities at bay. In line with this, the U.K. National Crime Agency (NCA) is recruiting a team of experts to investigate crypto-related illegal cyber activities.

The NCA's cybercrime Unit has posted openings for senior investigators specially assigned to investigate crypto-related crimes.

U.K. National Crime Agency Intensifies Fight Against Cryptocurrency Scammers

On January 4, the NCA launched a team, dubbed the National Cyber Crime Unit (NCCU), dedicated to investigating crypto-related cybercrimes in the U.K. According to reports, the move comes following the $287 million stolen by crypto scammers in 2022.

This endeavor underscores the U.K. government's commitment to fighting digital currency crimes and ensuring a safe space for all.

Furthermore, on July 4, the U.K. lawmakers passed a bill (introduced in September 2022) expanding authorities' ability to crack down on and seize crypto used for money laundering and related crimes.

Following #NationalSecurityBill, #HouseOfLords questions government on road fuel prices.

Watch on Parliament TV https://t.co/EWIxoLzJpC pic.twitter.com/Cww6S2hhNm

- House of Lords (@UKHouseofLords) July 4, 2023

Following this, the NCA has increased its effort to battle crypto-related cybercrime by bringing experts in crypto investigation to its team. On July 26, the NCA posted the openings for digital assets/cryptocurrency financial investigations manager.

These investigators will champion crypto and digital asset crime investigations backed by the proceeds of the Economic Crime and Corporate Transparency Bill.

For context, the Economic Crime and Corporate Transparency Bill authorizes the seizing and returning of money recovered from criminals or criminal activities for the community's benefit.

Expectations of The Government from The Crypto Crime Investigators

After the July 26 job posting, the NCA added another opening for multiple Digital Assets Senior Investigator slots on August 4.

According to the job advert, the investigator's position involves high-end crypto fraud investigations, blockchain-based crime carried out by organized crime groups and money laundering.

The investigators will work with the London police and a surveillance team to effectively carry out these operations.

The investigators are also expected to collaborate with fellow investigators, analysis and intelligence team members to tackle complex cases using evidence and data from various sources. Also, they must have vast experience in identifying and recovering seed phrases alongside advanced tracing through blockchains.

Furthermore, the investigators must possess a government-issued qualification on investigative crime or a current or active Professionalizing Investigation Programmed Level 2 accreditation.

According to the NCA, the expected salary ranges from 34,672 pounds to 38,314 pounds ($44,145 to $48,782.92), with other civil service benefits.

The move is one of the U.K. government's many strategies to eradicate what it calls "dirty money completely". The actions of the NCA increase regulatory attention on crypto assets in the U.K.

In July, the National Crime Agency (NCA) reported that it seized over 27 million, equivalent to $33 million in cryptocurrency assets in the 2021 - 2022 fiscal year, up from nothing the previous year.

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