{"id":8549,"date":"2023-11-02T09:08:22","date_gmt":"2023-11-02T09:08:22","guid":{"rendered":"https:\/\/infundpros.com\/markets\/crypto\/uks-national-crime-agency-seeks-to-set-up-specialized-team-to-combat-cryptocurrency-scams-and-fraud\/"},"modified":"2023-11-02T09:08:23","modified_gmt":"2023-11-02T09:08:23","slug":"uks-national-crime-agency-seeks-to-set-up-specialized-team-to-combat-cryptocurrency-scams-and-fraud","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=8549","title":{"rendered":"UK&#8217;s National Crime Agency Seeks to Set Up Specialized Team to Combat Cryptocurrency Scams and Fraud"},"content":{"rendered":"<div>\n<figure id=\"attachment_125710\" aria-describedby=\"caption-attachment-125710\" style=\"width: 960px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-125710\" class=\"wp-caption-text\">Source: AdobeStock \/ Mary<\/figcaption><\/figure>\n<p>The United Kingdom\u2019s <strong>National Crime Agency (NCA)<\/strong> is taking a proactive stance against the rising threat of cryptocurrency scams and fraud.<\/p>\n<p>In response to the increasing attempts by bad actors to deceive crypto investors, the NCA has announced plans to establish a specialized cryptocurrency and virtual assets team dedicated to countering these illicit activities.<\/p>\n<p>In <span data-preserver-spaces=\"true\">a recent post<\/span>, the NCA said it aims to recruit six individuals who will form the core of the new team.<\/p>\n<p>The team will focus on investigating crypto-related crimes and will be positioned either within the National Cyber Crime Unit (NCCU) or the Digital Asset Team.<\/p>\n<p>\u201cThe role will support existing and new investigations where specialist cryptocurrency experience is required along with taking a proactive lead in identifying targets for further development,\u201d the post read.<\/p>\n<p>The key responsibilities of the team members will include providing specialized expertise in cryptocurrency investigations, identifying potential targets for further development, conducting blockchain forensic investigations, and analyzing relevant materials.\n<\/p>\n<h2>NCA Issues Recruitment Notice as UK Pushes For Regulation<\/h2>\n<p>\nThe UK has been actively working towards creating a regulated environment that fosters the growth of the crypto ecosystem while protecting users from fraudulent activities.<\/p>\n<p>In line with this objective, the NCA has issued several recruitment notices throughout 2023, seeking crypto investigators at various levels.<\/p>\n<p>Back in July, the NCA <span data-preserver-spaces=\"true\">revealed that it is hiring<\/span>\u00a0two blockchain investigators for its newly-formed digital assets team within the Complex Financial Crime Team (CFCT) to tackle crypto crimes.<\/p>\n<p><strong>Coinbase<\/strong>, one of the prominent cryptocurrency exchanges, has also expressed its focus on the UK and Europe.<\/p>\n<p>In August 2023, Coinbase confirmed its serious commitment to the region amidst the introduction of the Markets in Crypto Assets (MiCA) regulation.<\/p>\n<p>The company recognized the UK as one of its fastest-growing user markets and acknowledged the significant developments taking place in Europe as the region prepares for a transformative shift in how it utilizes and perceives digital currencies.\n<\/p>\n<h2>UK Ramps Up Regulatory Efforts<\/h2>\n<p>\nThe UK has been among the countries that have ramped up regulatory efforts following some high-profile bankruptcies last year.<\/p>\n<p>Earlier this year, the country <span data-preserver-spaces=\"true\">officially passed legislation<\/span> to regulate cryptocurrencies and stablecoins as part of its broader financial regulatory reforms post-Brexit.<\/p>\n<p>The law, dubbed the <strong>Financial Services and Markets<\/strong> bill, will grant regulators the authority to establish a tailored framework for the digital asset sector, supporting crypto\u2019s \u201csafe adoption in the UK.\u201d<\/p>\n<p>Key updates include exchanges providing clear warnings to customers about the risks associated with crypto investments.<\/p>\n<p>Marketing materials must be fair, transparent, and not misleading. Additionally, a 24-hour cooling-off period for new customers is required.<\/p>\n<p>Last week, the FCA <strong>said that it has issued<\/strong> more than 200 alerts against firms suspected of illegally promoting cryptoassets since the introduction of the new rules.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/uks-national-crime-agency-seeks-to-set-up-specialized-team-to-combat-cryptocurrency-scams-and-fraud.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: AdobeStock \/ Mary The United Kingdom\u2019s National Crime Agency (NCA) is taking a proactive stance against the rising threat of cryptocurrency&#8230;<\/p>\n","protected":false},"author":1,"featured_media":8550,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[],"class_list":{"0":"post-8549","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UK&#039;s National Crime Agency Seeks to Set Up Specialized Team to Combat Cryptocurrency Scams and Fraud | inFundPros<\/title>\n<meta name=\"description\" content=\"Source: AdobeStock \/ Mary The United Kingdom\u2019s National Crime Agency (NCA) is taking a proactive stance against the rising threat of cryptocurrency scams\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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