UK hiring investigators to tackle crypto fraudsters

The UK’s National Crime Agency is seeking to address rising crypto-related crimes and plans to hire Digital Assets Cryptocurrency Financial Investigations Managers.

In the past year, there has been a surge in schemes involving crypto, leading to numerous residents falling victim.

Tackling crypto crimes 

Subsequently, the UK’s National Crime Agency (NCA) is seeking for qualified crypto investigators to combat crypto-related crimes. The Cryptocurrency Financial Investigations Manager (CFIM) position requires specialized skills and expertise in crypto transactions.

In the UK, the Investigations Directorate of the NCA plays a crucial role in combating crime.

Using an intelligence-led approach, they target criminal activities beyond the scope of other law enforcement agencies. Its primary focus is protecting the public and ensuring national safety by combating serious and organized crimes.

Working closely with the broader law enforcement community, these investigators will be responsible for dismantling organized crypto crime groups that exploit unsuspecting investors. 

Crypto crimes plaguing UK residents

A November 2022 report by the UK’s law enforcement agencies revealed that the crypto crime rate had 32% from 2021.

In May, a UK couple fell victim to a scam, resulting in a £45,000 debt. The criminals impersonated Martin Lewis, a well-known financial guru respected for his consumer rights and money-saving advice, using his reputation to make their deceitful activities appear legitimate.

To solve the rising problem of fraudulent practices in crypto, the UK’s Financial Conduct Authority (FCA) introduced new rules in June 2023.

The policy mandates crypto companies to include risk warnings in their advertisements and provide a “cooling off” period for new investors. 

The FCA aims to bolster consumer protection in crypto and ensure that potential investors are adequately informed about the associated risks before investing.