Europol Calls For Increased Powers For Police to Identify Bitcoin-Related Money Laundering

Europol, the European Union’s law enforcement agency that deals with criminal intelligence is calling for police to be given additional powers when it comes to identifying wrong-doers, particular those who are laundering money using bitcoin and other digital currencies.

“We’re seeing that virtual currencies are being used as an instrument to facilitate crime, particularly in regard to the laundering of illicit profits,” said Rob Wainwright, director at Europol, at a nuclear security conference in The Hague, Netherlands.

Europol doesn’t have their own policing powers, but they say that police agencies don’t possess the capability to identify and bring to justice criminals operating on the “dark web”.

“Criminals are abusing those freedoms and damaging society and threatening the security of millions,” Wainwright was quoted as saying. [via Reuters]

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