The Australian Federal Police (AFP) on Monday said that it has formed a new unit for Cryptocurrency to monitor crypto transactions and to increase cryptocurrency expertise. The unit is set to specifically target cryptocurrency laundering schemes and to nab criminals and hackers trying to bypass network security protocols. According to Stefan Jerga, national manager of AFP’s criminal asset confiscation command, said that since early 2018, the use of cryptocurrencies to finance criminal activities has increased exponentially. He added that this new unit has been set up as a response to that threat.
