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IRS Investigates Evolving Crypto Crimes with Advanced Strategies
In a recent podcast episode, Jim Lee, Global Head of Capacity Building at Chainalysis, discussed the crucial role of the Internal Revenue Service’s (IRS) Criminal Investigation unit in tackling the growing threat of crypto-related crimes. The IRS-CI has been proactive in employing innovative strategies and international collaborations to combat the evolving landscape of financial crimes.
The IRS-CI has positioned itself as a leader in this field by leveraging its expertise and global partnerships to address the challenges presented by digital assets, such as cryptocurrencies. As cryptocurrencies become increasingly prevalent, the IRS-CI is using advanced AI technology and cutting-edge data analysis techniques to stay ahead of criminals.
To combat the rising threats, the IRS-CI is also relying on international collaborations to combat crypto-related crimes. The agency has established an Advanced Collaboration and Data Center (ACDC), which aims to bring together agents, analysts, and experts from various disciplines to focus on identifying and pursuing the most egregious criminal activities.
The podcast highlights the growing sophistication of criminals who are using advanced techniques such as anonymity-enhanced coins and cross-chain transactions to evade detection. To counter these emerging challenges, the IRS-CI is investing in AI-powered data analysis tools and collaborative efforts with international partners to address the increasing complexity of crypto-related crimes.
In an effort to adapt to the rapidly evolving digital landscape, the IRS-CI is focusing on developing its capabilities in blockchain technology, AI, and smart contracts.
Source: Blockchain.News
