Home Cryptocurrency Justice Dept Developing Comprehensive Cryptocurrency Strategy Says DOJ #2

Justice Dept Developing Comprehensive Cryptocurrency Strategy Says DOJ #2

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Deputy Attorney General Rod Rosenstein (Photo by Win McNamee/Getty Images)

The Justice Department’s cybercrime task force is developing a comprehensive strategy for cryptocurrency,&nbsp;&nbsp;Deputy Attorney General Rod Rosenstein told a meeting of representatives of the nation’s largest banks today.

“(Cryptocurrency) is a new challenge for us,” Rosenstein told the Financial Services Roundtable in Washington, DC.

He said part of the challenge to catching cryptocurrency and other cyber crooks is that many are based abroad.But Rosenstein said the Justice Department has had success on extraditing them from other countries.

Speaking to the evolving entry of cybercrime into DOJ’s agenda, the 30-year Justice Department veteran noted ransomware and botnets were unheard of five and 10 years ago.

During the session, he urged Americans to use several types of identification in making purchases and other activities to aid their personal cybersecurity, not just a single one like a Social Security number.

“It’s pretty important to use multiple levels of security. It can be a frustration for consumers, but it can help,” Rosenstein said.

He called banks the first line of defense in anti-money laundering and preventing and detecting cybercrime.

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Deputy Attorney General Rod Rosenstein (Photo by Win McNamee/Getty Images)

The Justice Department’s cybercrime task force is developing a comprehensive strategy for cryptocurrency,  Deputy Attorney General Rod Rosenstein told a meeting of representatives of the nation’s largest banks today.

“(Cryptocurrency) is a new challenge for us,” Rosenstein told the Financial Services Roundtable in Washington, DC.

He said part of the challenge to catching cryptocurrency and other cyber crooks is that many are based abroad.But Rosenstein said the Justice Department has had success on extraditing them from other countries.

Speaking to the evolving entry of cybercrime into DOJ’s agenda, the 30-year Justice Department veteran noted ransomware and botnets were unheard of five and 10 years ago.

During the session, he urged Americans to use several types of identification in making purchases and other activities to aid their personal cybersecurity, not just a single one like a Social Security number.

“It’s pretty important to use multiple levels of security. It can be a frustration for consumers, but it can help,” Rosenstein said.

He called banks the first line of defense in anti-money laundering and preventing and detecting cybercrime.

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