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Sunday, May 28th, 2023

Secret Service initiates cryptocurrency public awareness hub

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The U.S. Secret Service said it has initiated a cryptocurrency public awareness hub to protect the national financial infrastructure.

“Blockchain technology has brought massive development to many sectors, especially within finance,” Secret Service Office of Investigations Assistant Director Jeremy Sheridan said. “The Secret Service’s mission of investigating financial crimes has advanced in lock-step with this progress. Our obligation to enforce crimes against the nation’s financial systems includes both informing the public on how digital assets work and partnering with them to identify, arrest and prosecute those engaging in crimes involving digital assets.”

Sheridan said the Secret Service would continue to expand its capabilities, collaboration, and effectiveness related to all financial crimes investigations.

The cryptocurrency public awareness hub is slated to feature a new public service announcement addressing information digital assets and cryptocurrencies security while also focusing on the agency’s work to combat the illicit use of digital assets.

The Secret Service maintains cybercriminals have developed money mule and digital money laundering service networks as a means of laundering illicitly obtained funds.

In the wake of digital and cryptocurrencies becoming more popular forms of payments, officials said the Secret Service must remain at the forefront of public education and combating financial fraud.