US Launches $5 Million PACIFIC Program to Trace Illicit Crypto Funds

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The United States has announced $5 million for a regional program intended to strengthen cryptocurrency investigations and combat illicit financial activity across the Pacific Islands. The Pacific Alliance for Combating Illicit Finance and Cybercrime (PACIFIC) initiative forms part of a broader security package exceeding $44 million focused on law enforcement cooperation and efforts to disrupt transnational criminal networks. TL;DR $5 million initiative: PACIFIC will support cryptocurrency tracing, digital forensics and beneficial-ownership investigations. Broader security package: The funding forms part of more than $44 million in announced US initiatives for the Pacific region. Legal cooperation: The program also aims to strengthen regional anti-money laundering and cybercrime frameworks. What the PACIFIC Program Will Fund The initiative was announced in connection with the inaugural US-Pacific Islands Conference of Police Ministers. Its objective is to give participating authorities additional skills and resources to investigate financial activity connected to criminal networks. A...