This article was first published in CDR - Fraud, Asset Tracing & Recovery
Global digital asset adoption is on the rise, bringing with it an increasing number of cyber criminals determined to put new faces on old crimes. While recognizing the proliferation of illicit activities like ransomware attacks and market manipulation, institutions and individuals find they must adapt to market conditions by adopting digital assets, despite the risks associated with them. However, tools and techniques do exist to minimize these risks, whether it is through identifying and mitigating criminal activity or through the appropriate due diligence and education required for navigating through the nascent asset class.
Director Mansi Mehta and Manager Hakob Stepanyan, both of BDO USA LLP, explain how blockchain forensics is evolving to address current and future concerns. They further emphasize the need for adoption of best practices and corporate governance to build a robust and a cohesive ecosystem, striking a balanced approach between innovation and responsibility. Their in-depth discussion provides insights to anyone using digital assets now or considering upcoming ventures into the crypto environment.