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New NCET ‘National Cryptocurrency Enforcement Team’ Created By Department of Justice

The National Cryptocurrency Enforcement Team or easily called NCET is a new project team. The U.S. Department of Justice (DOJ) is creating a this new team to deal with criminal activity within the digital asset space.

Additionally, The National Cryptocurrency Enforcement Team – NCET will function under the department’s Criminal Division. More so, they’ll be responsible for prosecuting illegal activity. Of course, also attempt to recover illicit proceeds.

So, The new DOJ press release goes on add…

“Deputy Attorney General Lisa O. Monaco announced today the creation of a National Cryptocurrency Enforcement Team (NCET),…”
“to tackle complex investigations and prosecutions of criminal misuses of cryptocurrency,…”
“particularly crimes committed by virtual currency exchanges, mixing…”
“…and tumbling services, and money laundering infrastructure actors.”

Furthermore, According to Assistant Attorney General Kenneth A. Polite Jr.

“The creation of this team will build on this leadership by combining and coordinating…”
“…expertise across the Division in this continuously evolving field to investigate and prosecute…” the fraudulent misuse, illegal laundering, and other criminal activities involving cryptocurrencies.”

So, NCET is setting out plans to build relationships with law enforcement agencies. Furthermore, Agencies at federal, state, and local levels. Also, search out for partnerships with private sector entities in cryptocurrencies.

“Areas for increased investigative and prosecutorial focus [include] professional money launderers,…”
“…ransomware schemes, human traffickers, narcotics traffickers, and financial institutions working with cryptocurrency.”

Additionally, NCET announcement is coming on as influence of a broader international pressure.

Yes! Of course, to track down on cybercrime which has cheated consumers out of billions of dollars annually.

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