In this conversation, Aidan Larkin sits down with Rich Lebel, Director of the Transaction Record Analysis Center (TRAC), to unpack the strategies law enforcement uses to stay ahead of digital money laundering and crypto-enabled fraud.
They examine sophisticated laundering schemes, the rise of crypto ATM fraud, and the challenges of cross-border investigations, highlighting why collaboration, training, and accountability are essential for effective asset recovery.
Timestamps
00:00 – Introduction and Background
03:00 – The Birth, Mission, and Growth of TRAC
08:57 – Data Collection and Its Implications
11:57 – The Rise of Crypto ATMs and Fraud
17:57 – Law Enforcement Challenges and Future Directions
33:05 – Regulating Bitcoin ATMs and Crypto Transactions
41:46 – International Cooperation and Training for Law Enforcement
About our Guest
Rich Lebel leads the Transaction Record Analysis Center (TRAC), using global money transfer data to support law enforcement in tackling money laundering, crypto-related fraud, and other financial crimes. With over 20 years in complex criminal investigations, he provides training, analytical insight, and champions international cooperation in asset recovery.
Key Takeaways
Origins of TRAC: TRAC was established following a settlement with Western Union, creating a centralised resource for law enforcement to access transactional data.
Role of Data Analysis: Analysing transactional data helps law enforcement identify crime patterns, trace funds, and anticipate emerging threats.
Evolving Money Laundering Tactics: The rise of crypto ATMs and digital assets has changed how criminals move and layer illicit funds, requiring new investigative approaches.
Challenges with Crypto ATMs: Crypto ATMs are frequently used for fraudulent activities, yet regulatory oversight in the US remains limited.
Importance of Data Sharing: Collaboration and data sharing between agencies are critical for effective investigations and adapting to rapidly changing criminal tactics.
Training and Awareness for Law Enforcement: Continuous training and awareness are essential for law enforcement to tackle new technologies and sophisticated money laundering methods.
Adapting to Criminal Innovation: Criminals are evolving quickly to evade detection, making proactive strategies and technology adoption vital for asset recovery efforts.
Resources Mentioned
Webinar: The Hard Truth About Asset Seizure
Crypto Training on Asset Reality’s Academy
TRAC on the Wall Street Journal
Miles Johnson on Seize & Desist
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