U.S. Secret Service Launches Cryptocurrency Awareness Hub

Published By U.S. Secret Service Media Relations - Published Date 2022-02-18

Washington – The U.S. Secret Service has launched a cryptocurrency public awareness hub featuring a new public service announcement video and information on the security of digital assets and cryptocurrencies.

The new website will feature the latest in the agency’s work combatting illicit use of digital assets as well as provide public awareness information on digital asset security and how to ensure it remains secure.

“Blockchain technology has brought massive development to many sectors, especially within finance. The Secret Service’s mission of investigating financial crimes has advanced in lock-step with this progress,” said U.S. Secret Service Office of Investigations Assistant Director Jeremy Sheridan. “Our obligation to enforce crimes against the nation’s financial systems includes both informing the public on how digital assets work and partnering with them to identify, arrest, and prosecute those engaging in crimes involving digital assets. The Secret Service will continue to expand its capabilities, collaboration, and effectiveness related to all financial crimes investigations.”

Digital money enables transnational cybercrime, including ransomware, as it provides a ready means for transnational criminals to convert to and from fiat currencies as well as transfer and launder proceeds of cyber-enabled crimes. Cyber criminals have additionally developed substantial networks of money mules and various digital money laundering services, such as over-the-counter brokers or exchange services and other unlicensed money services, to launder illicitly obtained funds. The Secret Service addresses this risk, in close partnership with the U.S. Department of the Treasury, to further investigations and directly address the financial motive of cybercrime through asset seizures and other actions.

Investments and transactions using cryptocurrencies and digital assets are not inherently criminal, however do provide new opportunities for those seeking to commit fraud or otherwise conceal further illegal activities. As digital and cryptocurrencies continue to become more popular forms of payments, the Secret Service must also remain at the forefront of both educating the public and combating financial fraud.

Learn more about the Secret Service’s role in protecting cryptocurrency by visiting the newly created informational hub.