Last week, our very own Dr Aaron Lane featured in ABC Radio National’s Law Report, hosted by Damien Carrick. The episode explored the court’s perspective and treatment of cryptocurrency crime, with Aaron discussing the common cryptocurrency scams he’s encountered in private practice.
Aaron explained that using cryptocurrency as a payment platform is largely viewed by courts as an indicator of sophisticated offending, which carries far greater penalties. Courts appear to want to deter offenders from engaging in cryptocurrency crime by imposing harsher sentences. However, Aaron reiterated that cryptocurrency technology is an increasingly more accessible platform so it cannot be said to be such a complex area of technology, as it was in the past. Law enforcement is also becoming more sophisticated at using blockchain analytics and technology to track down cryptocurrency crimes. Consequently, this is the challenge for the next decade – to prosecute cryptocurrency scams operating outside of Australia that use such professional and sophisticated technology.
Duxton Hill specialises in assisting victims of cryptocurrency scams. To listen to the full extract, click here.