Blockchain tracking and cryptocurrency tracing services like those offered by CNC Intelligence Inc. work hand-in-hand with law enforcement world-over to assist in busting crypto crime and recovering stolen assets. This article covers the police support and law enforcement assistance services CNC Intelligence offers.
The need to monitor cryptocurrency activities has emerged as one of the chief concerns of law enforcement agencies worldwide. These digital assets’ anonymous and pseudo-anonymous nature can be attractive to individuals engaging in criminal or illicit activities. Using digital cash for crime has become increasingly attractive for some individuals. Cryptocurrency-related crimes have involved minor offenses and more serious and organized illegal activities.
Authorities and law enforcement agencies have tackled high-profile and extensive criminal rings over the last few years. In 2020 they:
- Wrapped up a couple of cryptocurrency fundraising campaigns that financed terrorist organizations
- Arrested criminals who had pulled off a Twitter hack affecting millions of users
- Shut down pornography operations targeting minors
- Seized the cryptocurrency addresses of hundreds of North Korean hackers
What do these crime-busting success stories have in common besides their grand scopes? Law enforcement used input from private cryptocurrency investigative and blockchain tracking service providers to dismantle, track down, and wrap up the crimes.
Private blockchain tracking and cryptocurrency recovery companies offer police support and services to law enforcement agencies world-over. And it has become clear to law enforcement agencies that private-sector cooperation is essential in fighting technology-based fraud and crime.
Currently, some law enforcement agencies may be less familiar with cryptocurrency forensic investigations and could benefit from additional resources or training to better investigate crimes involving cryptocurrency. As demonstrated by CNC Intelligence in Nigeria, acquiring the know-how and tools to trace cryptocurrencies is possible. Private-sector crypto-tracking companies can serve as valuable sources of blockchain information and digital asset-tracking skills for these agencies.
Cooperating with private crypto tracking companies carries many upsides for law enforcement.
On the one hand, they can get training. They can use outside advisors to provide their employees with the basic skills to recognize cryptocurrency crime and understand what they can and should do about it.
On the other hand, they can use the expertise crypto tracking companies can provide. Law enforcement may not have the resources to go into the details of sophisticated cryptocurrency tracking. Agents may focus their time on collecting evidence and building cases against criminals. The minutiae of the process would tie up precious resources and hamstring investigations.
A Cost-wise Problem
Law enforcement agencies may not have the financial resources to hire cryptocurrency tracking experts who find better employment opportunities in the private sector.
Law enforcement may face challenges competing with private sector salaries for specialized cryptocurrency tracking expertise.
It also makes sense for agencies to contract these specialized skills instead of maintaining them in-house. By understanding the basics of cryptocurrencies and their potential misuse, law enforcement can determine when to seek assistance from external experts.
Cases involving significant seizures and forfeitures can contribute significantly to law enforcement budgets. Therefore, spending tens of thousands of dollars on contracting help makes sense if the potential windfall is in the millions of dollars.
The Advantages of Working with Private Sector Companies
Private sector blockchain analysis companies like CNC Intelligence Inc. use proprietary data and methods to analyze the ledgers that hold the records of all cryptocurrency transactions. Their expertise enables them to identify patterns and connections within these transactions, leading to the uncovering of potential fraud schemes. Significantly, CNC Intelligence provides law enforcement agencies with actionable intelligence, identifying entities that can be subpoenaed for further information. This approach helps reveal possible suspects or beneficiaries of the transactions, thereby playing a pivotal role in advancing criminal investigations. CNC Intelligence’s analysis does not directly expose the identities of individuals but facilitates the legal process by which law enforcement can obtain this information through subpoenas and other lawful means.
Private companies, such as CNC Intelligence Inc., collaborate closely with law enforcement agencies in the realm of blockchain analysis and cryptocurrency tracking. Rather than providing direct access to their proprietary databases, these companies supply law enforcement with actionable intelligence derived from their extensive research and analysis. This approach ensures that agencies receive the necessary and relevant information to advance their investigations without compromising the security and integrity of the private companies’ databases. This collaboration is vital in piecing together complex digital financial crimes, offering a streamlined and focused transfer of crucial investigative insights.
Media reports over the years indicate that several U.S. law enforcement agencies have utilized the services of private-sector experts at various times. In some instances, law enforcement entities have entered into contracts with private-sector firms to integrate their expertise into their units.
Crypto Assistance is an Increasingly Sought-after Commodity
The Financial Action Taskforce, a global anti-money laundering agency, has encouraged its members to implement more robust AML policies and develop capabilities to combat cryptocurrency-linked cybercrime. These new demands have enabled law enforcement agencies to explore partnerships with private-sector experts to enhance their abilities.
The increasingly fast-changing technological landscape poses challenges that may require law enforcement to update their systems and procedures.
Traditionally, law enforcement agencies have developed capabilities to address technological challenges. Agencies would add agents to their staff, training them in the new technologies. Developing effective crime-fighting capabilities through traditional methods may require significant time.
Due to the quickly evolving nature of cybercrime, law enforcement must adapt and develop new capabilities promptly. When agents are ready to tackle a type of crime, the criminals will have moved on to different techniques and technologies. Developing practical cybercrime-fighting skills can be time-consuming, and the rapid evolution of technology may require continuous updates to maintain their relevance.
One solution is collaborating with external experts with established knowledge and experience in the field. And private sector companies like CNC Intelligence Inc., which offer police support services, are part of this answer.
As demonstrated by CNC Intelligence Inc’s recent initiatives in Nigeria, the collaboration between law enforcement and private-sector blockchain analysis companies can be multifaceted. CNC Intelligence Inc’s Matthew Stern provided local law enforcement agents with an overview of cryptocurrency-based cybercrime, equipping them with the knowledge to recognize, investigate, and prosecute cases.
The Many Dimensions of the Law Enforcement – Private Sector Cooperation
CNC Intelligence Inc. is committed to cooperation with law enforcement for several reasons.
As a company specializing in tracking and recovering stolen digital assets, CNC Intelligence Inc. works with local law enforcement agencies worldwide in asset recovery. CNC Intelligence Inc. collaborates with authorities globally, supporting their objectives and relying on their assistance in achieving successful asset recovery outcomes.
How Does CNC Intelligence Cooperate with Law Enforcement?
CNC Intelligence Inc. is committed to helping authorities combat cryptocurrency crime. To actively assist law enforcement in investigating and prosecuting cryptocurrency cases, the organization offers flexible police support services, beginning with tracing assistance and wrapping up with expert witness services.
Tracing and Specific Case Assistance
CNC Intelligence Inc. can offer law enforcement agencies cryptocurrency tracing services on a case-specific basis if needed. The company can also connect its clients with other local or federal crypto-tracing specialists.
Comprehensive Training
As the Nigeria example shows, CNC Intelligence Inc. offers law enforcement agencies a wide range of training courses. The courses cover the basics and advanced crypto tracing, forensic investigations, recovery techniques, and legal implications.
Expert Witness Services
Expert witnesses use their expertise to convince the court of the validity of an argument that supports a case. Expertise is always welcome, but not enough. Skilled expert witnesses can masterfully convey expertise in the courtroom, explaining complex concepts to laypeople in easy-to-digest servings.
CNC Intelligence Inc’s experts can serve as expert witnesses in legal proceedings, providing valuable insights to support cases. Credibility and expertise help law enforcement build strong cases against perpetrators of cryptocurrency-based cybercrime.
Private-sector companies offering police support services, like CNC Intelligence Inc., have collaborated with law enforcement agencies over the years, contributing to the resolution of numerous high-profile cases. The relationship is mutually beneficial. Law enforcement can cooperate with private companies during the final stage of the recovery process. Crypto tracing and recovery firms can provide investigative reports and guidance to assist authorities in acquiring suspect information to advance their investigations.
CNC Intelligence’s Training Initiative in India
From November 27th to December 1st, 2023, CNC Intelligence marked a significant milestone in its global outreach efforts by conducting a comprehensive four-day training program at CID Headquarters in India. This event, led by CEO Matthew Stern and Mr. Sanath Kumar J, Managing Director of Oconus, focused on Cryptocurrency Tracing and Forensic Investigations.
Training Highlights
- In-Depth Curriculum: The training covered a range of topics crucial for effective cryptocurrency investigations, including advanced tracing techniques, forensic analysis of digital transactions, and understanding the nuances of blockchain technology.
- Hands-On Approach: The program was designed to provide practical, hands-on experience, equipping participants with the skills to tackle real-world challenges in cryptocurrency-related crime.
- Global Expertise: The initiative brought together global expertise, with CNC Intelligence’s seasoned professionals sharing insights gleaned from their extensive experience in the field.
Impact and Significance
- Empowering Law Enforcement: By educating law enforcement officers in India, CNC Intelligence has played a pivotal role in strengthening the investigative capabilities of agencies dealing with digital asset crimes.
- Global Implications: This training aligns with global trends where nations like India have embarked on comprehensive programs to train thousands of officials in cryptocurrency forensics and investigations. Such efforts highlight the growing recognition of the importance of specialized knowledge in combating crypto-related crimes.
- Collaboration and Outreach: The initiative underscores CNC Intelligence’s commitment to collaborating with law enforcement agencies worldwide, offering its expertise to bolster efforts against cybercrime and digital asset fraud.
CNC Intelligence’s Broader Role
Beyond training, CNC Intelligence offers a spectrum of services to law enforcement agencies, including crypto tracing, case assistance, and expert witness services. These offerings are tailored to enhance the investigative processes and legal strategies of agencies grappling with the complexities of digital currencies.
Conclusion
CNC Intelligence’s training program in India is a testament to the company’s dedication to fighting cryptocurrency crime through education and collaboration. By equipping law enforcement with specialized knowledge and skills, CNC Intelligence is contributing significantly to creating a safer, more secure digital financial landscape. This initiative is a model for how private sector expertise can be leveraged to empower law enforcement agencies worldwide.
Learn more about CNC Intelligence’s services for police.
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