Organized crime groups in Scotland are increasingly using cryptocurrency for their operations, according to Police Scotland. Significant growth in crypto-related crime cases has been reported.
Increase in Cryptocurrency-Related Crime
Police Scotland reports an approximately 2000% increase in cryptocurrency-related criminality since 2019. Crime groups are quick to adapt and utilize new methods to obfuscate their activities.
Utilization of Tracking Tools
While the exact number of cases remains unclear, authorities suggest that cryptocurrency plays an increasing role in fraud and organized crime. Police have begun using two tracking and tracing tools that should aid their capacity to combat such crimes.
Development of New Cyber Crime Units
Police Scotland is also part of the national Cryptocurrency Working Group, which will develop strategies and training, including expert witness preparation. A proposed Cyber and Fraud Command will enhance Scotland's response to crypto crime.
As crime groups increasingly exploit the possibilities offered by cryptocurrencies, Scotland's authorities continue to adapt their response methods, which may assist in combating organized crime.
