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Police target cryptocurrency at National Proceeds of Crime Conference

13 November 2019, 7:53am
Media Release

Police target cryptocurrency at National Proceeds of Crime Conference

How is globalisation and digitisation of the criminal economy going to affect criminal enterprises into the future?

That’s what more than 200 delegates will discuss when they hear from representatives from the Australian Federal Police, United States Department of Justice, Singapore Police Force, New Zealand Police, Australian Taxation Office and the Australian Securities and Investment Commission, the Australian Criminal Intelligence Commission and the Australian Transaction Reports and Analysis Centre as well as state and territory police at the 2019 National Proceeds of Crime Conference (NPOCC) being held in Brisbane from 13 – 15 November.

The theme of the conference is - ‘Rethinking Law Enforcement efforts to address the Globalisation and Digitisation of the Criminal Economy’ and the event is hosted by the AFP-led Criminal Assets Confiscation Taskforce.

AFP Acting Assistant Commissioner Justine Gough says the conference enables national and international law enforcement partners, financial intelligence units and central authorities to come together and discuss trends in criminal enterprises and better ways to identify, restrain and forfeit the proceeds of crime, depriving criminals of valuable assets to make Australian communities safer.

 “Advances in technology, like cryptocurrency and encrypted communications have changed the way criminals acquire and hide their assets,” Acting Assistant Commissioner Gough said.

“Seizing and removing the profits of crime is one of the most effective capabilities we have in impacting organised criminal networks.”

“We are honoured to have representatives from law enforcement, government departments and private enterprise from across Australia and the world coming to Brisbane to share their insights and to collaborate on how we respond to emerging technologies like cryptocurrency.”

The conference theme will focus on how law enforcement and other public and private organisations respond to criminal enterprises in a digital environment, with increasing levels of encryption and the impact this has on the community.

Other key issues to be covered include: the Darknet, trends in money laundering, collaboration in investigations; evidence collection in an age of cloud-based data and the monetisation of cybercrime.

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