Starting in 2013, hackers targeted large banking institutions by requiring them to download a program that penetrates the ATMs. The program sends instructions to the ATMs to spend money whenever the hackers want. The brokers collect the money and deposit it in the criminals' accounts. In this way, criminals stole more than $ 1.2 billion.
The European law enforcement agency Europol recently arrested four individuals, one of whom was the mastermind of the crime, and was arrested in Spain. The agency did not disclose details of the whereabouts of the criminals.
In the past, the secret criminals used by the covert currency transactions took advantage of it, and the legal agencies were not so familiar with these techniques that they could quickly prosecute criminals. But secrecy of securitized currencies does not prevent them from being kept in a public account register; that is, it is not impossible to trace financial transactions to the money laundering portfolios. A study published earlier this year found it relatively easy to trace the black market transactions in retroactively formed currencies to active public accounts, let alone track them even if they were carried out several years ago or where sites like Silkroad . »
This is exactly what happened, as sources told the Spanish magazine «El Mundo» that the record of currencies blind was one of the means on which the Europol agency to identify and follow the leader of the group.
Most legal agencies lack sufficient experience to track down criminals in this way, yet the US government has recovered more than $ 1 billion from confiscating blind currencies. The recent adjustment may make an important shift. If the currencies are more popular and used, governments have to make teams specializing in these crimes. They will find criminals more vigilant, and may launder their money by hiding the portfolios their money ends up with.
This could result in a digital arms race by the criminals and the police seeking to arrest them, and the law must keep pace with these developments to prevent criminals from exploiting any possible gaps in this regard.
Sources: Quartz, El Mundo, Reuters