Crypto Currency fraud and theft raises in 2019

Cryptocurrencies continue to be at scrutiny as billions of dollar are lost every year due to theft and fraud.

Regulators all across the world seem to agree that this assets require specific regulation given the lack of transparency and easy negotiation that involves transactions.

In the first quarter of 2019 cryptos showed a sum of $ 1.2 Billion of lost linked to fraud and theft, while on 2018 the annual amount reached $1.7 Billion.

The report included the losses linked to the Canadian platform QuadrigaX, which founder surprisingly died letting all accounts frozen as he was the sole password holder.

In addition, to the lost, investors saw a major decrease in the asset value as the main cryptos were facing problems and some changes faced regulatory issues.

Mark JeCvans (executive officer of the company producing the report) told Reuters that “Crypto crime has gotten worse because regulations are still weakly enforced. Europe broadly has not implemented its regulations yet and the cyber criminal community continues to grow,” 



Jaime Prieto

Mr. Jaime Prieto is a lawyer experienced in Financial Crime, Anti-Money Laundering and Counter Terrorism Financing having extensive professional experience in both public and private sectors. Mr. Prieto has been a Head of Compliance in the European Union, the Americas and the Caribbean for banks, trust companies, asset managers, Big Four audit and advisory firms, RegTechs, government agencies and other types of financial professionals. In addition to his experience, he has been legal and educational chair in several compliance and sectorial organisations and performed as a teacher and speaker for a number of organisations and in several local and international forums. Furthermore, Mr. Prieto is an experienced Money Laundering Reporting Officer anda Data Protection officer with additional experience in risk management.
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