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Making crypto conventional by improving crypto crime investigations worldwide

Published 04/29/2022, 10:11 PM
Updated 05/01/2022, 12:20 AM
Making crypto conventional by improving crypto crime investigations worldwide

When times are tough — as in the pandemic — enterprising human nature goes into overdrive. People seek out alternative ways to make money. That could be one of the reasons why cryptocurrencies skyrocketed in popularity in the last few years, driven in part by large numbers of people sitting at home wondering how to beat low-interest rates and rising inflation.

Where there’s cash, however, there are also criminals. Bad actors are experts in human behavior and see building momentum and increased crypto traffic as a huge opportunity, knowing that many newer investors may not do their homework. Investors might not apply the same level of scrutiny to crypto as they would their pensions or other investments, and there’s not a lot of regulatory oversight globally. So, a simple splash page or message on a forum can quickly lead a lot of new investors to fall into scams.

Mike Welsh is director of government affairs at Merkle Science and is responsible for relationships with international government entities, providing training, operational and technical insights to regulators and law enforcement so they may seamlessly fold cryptocurrency crimes into financial investigations and collaborate with other agencies. Previously, Mike spent eight years with the FBI, specializing in complex financial crimes and opioid diversion. After that, Mike led Chainalysis’ early efforts into the public sector, assisting in government liaison and operations.

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