The head of Europol’s European Financial and Economic Crime Centre, Burkhard Mühl, cautioned that the criminal misuse of cryptocurrencies is growing more sophisticated, adding pressure to EU law enforcement agencies.
At the recent conference on financial crime, experts urged for increased investment in training and better cross-sector collaboration to tackle crypto crime, which is on the rise globally.
Europol’s report noted that about 40.9 billion USD in illicit transactions were recorded in 2024, signifying a significant challenge for police forces dealing with the global nature of these crimes due to inconsistent blockchain standards.
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