US depart of Justice

US Department of Justice Intensifies Fight Against Cybercrimes

The US Department of Justice (DoJ) has decided to invest more efforts against cybercrimes, more specifically cryptocurrency-related crime and ransomware attacks.

The Principal Deputy Assistant Attorney General, Nicole M. Argentieri, in a recent speech on Thursday, July 20, talks about a plan that will bind the National Cryptocurrency Enforcement Team (NCET) with the Computer Crime and Intellectual Property Section (CCIPS), in order to double the efforts in investigating cybercrimes.

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The Principal Deputy Assistant Attorney General, Nicole M. Argentieri

The NCET, established in 2021, is a groundbreaking force in handling investigations and prosecutions of criminal misuse of cryptocurrency. Moreover, it consists of the most daunting knowledgeable criminal lawyers, well-equipped in the technical, business, and legal aspects of cryptocurrency.

Enhancing Expertise through Consolidation

By incorporating the NCET into the CCIPS, the DoJ ought to create an office with thorough expertise in fighting cybercrime. On the other hand, this move will raise the NCET to new levels in its combat against cryptocurrency-related crimes. This will also ensure that any CCIPS attorney can be designated to work on an NCET case, enhancing the overall efficiency of the investigations.

Tracing and Returning Crypto-Funds to Victims

One pivotal advantage of this merger is its ability to enhance the traceability of cryptocurrency. The DoJ will be better furnished to grasp legally forfeitable cryptocurrency and return the funds to victim organizations. An example of this is the successful capture of millions of dollars in cryptocurrency from the Darkside ransomware gang following the attack on Colonial Pipeline in 2021.

Creating a “Super-Charged” CCIPS to Address Ransomware

By making a “super-charged” CCIPS with the NCET, the DoJ aims to address ransomware attacks upfront. The collaboration between the CCIPS experts and NCET specialists will enhance the investigation of ransomware crimes while tracking criminals through their cryptocurrency payments. This dynamic approach includes freezing or capturing cryptocurrency funds before they reach ransomware hotspots like Russia, eventually disturbing cybercriminal operations.

Aligning with US National Cybersecurity Strategy

The merger of NCET into CCIPS lines up with President Joe Biden’s National Cybersecurity Strategy, which underlines ransomware as a prominent national security threat. Part of this strategy emphasizes the disturbance and dismantling of ransomware threat actors.

All in all, the merger of NCET into CCIPS signals a determined effort by the US Department of Justice to deepen its fight against cryptocurrency-crime, with ransomware attacks. The creation of a more specialized team will enable the DoJ to address evolving threats effectively. Ensuring greater security and protection for individuals and organizations in the digital era.

For more news and updates on Cybersecurity, visit The Cybersecurity Club.

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