Justice Department unveils cryptocurrency enforcement team to trace, recover ransomware payments
Beckers Health IT
The Justice Department launched the National Cryptocurrency Enforcement Team on Oct. 6 to investigate and prosecute criminal misuse of cryptocurrency in ransomware attacks.
Five things to know:
1. The team will move forward under Assistant Attorney General Kenneth Polite Jr.'s guidance, according to a news release. The enforcement will combine the expertise of the Justice Department's money laundering and asset recovery section, computer crime section and more.
2. The team is tasked with strengthening the federal government's capabilities to dismantle the financial entities that enable hacker groups to rake in profits. It also will assist in tracing and recovering assets lost in payments to ransomware groups.
3. "As the technology advances...