When the banks failed in 2008, our financial systems shifted. A decade on, one of our most nagging financial predicaments centers on virtual currencies and their (lack of) regulation. 2018 is showing promising steps forward in lawmaking for countries like Switzerland, Germany, Malta, and even the US. So, why does Vancouver-based intelligence firm BIG believe that white-collar crime could double over the next 10 years?
As an agency that helps track and monitor cryptocurrency transactions at a forensic level (with the Department of Justice and Homeland Security among its clients), BIG notes that, as technology evolves, rather than fight white-collar crime, it could very well facilitate it. Moreover, the internet provides vast opportunities for white-collar criminals in 2018 – and current legislation is ill-prepared to stop the rise.