GAO Releases Recommendation to Combat Human and Drug Trafficking in Cryptocurrency Markets

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Wednesday, January 26, 2022
Author: 
Alexander Mostaghimi
Volume: 
38
Issue: 
2
Abstract: 

In December 2021, the Government Accountability Office (GAO) issued a public version of report to congressional requesters regarding the use of virtual currencies to facilitate human and drug trafficking and possible solutions.  Broadly speaking, the report recommends that the U.S. Treasury cooperate with local law enforcement to share typologies, methodologies, and region-specific information of traffickers in an effort to link them with industries that bolster the illicit practices.[1]



[1] Government Accountability Office, Virtual Currencies: Additional Information Could Improve Federal Agency Efforts to Counter Human and Drug Trafficking, Report to Congressional Requesters, December 2021.