Blockchain forensics, artificial intelligence and cross-border collaborations make it tougher for crypto criminals to avoid the long reach of law enforcement, as several recent cases demonstrate.
and the proceeds go into designated government accounts. But, when there are innocent victims, a process for restitution is essential for there to be trust in the judicial system.Blockchain analysis and forensics do not live alone on a deserted island. There are several layers of collaboration required to bring wrong-doers to justice.
Next, there are private sector partners that support crypto monitoring, enforcement actions and cases. There are now several companies that provide tools for blockchain intelligence such as identifying tainted wallets, assigning risk scores to wallet addresses, using analytics and artificial intelligence techniques to flag suspicious patterns and much more. With such tools and techniques, investigative agencies can be more effective.
, but countries are still in different stages of implementing them. Such are the vagaries of sovereignty and statehood in a financial world in transition, the rules of engagement for which are still under development.The recent success of the agencies in the U.S. and a few other countries’ may give the impression that law enforcement agencies everywhere are on top of blockchain forensics. In reality, specialist teams, armed with state-of-the-art blockchain analysis tools, are the exception.
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