In a recent article for Expert Witness Journal, Senior Consultant to CRA Paul Doxey explains how cryptocurrencies are used to launder illicit funds and how this affects the asset tracing work done by forensic accountants.
The paper provides background on cryptocurrencies and the financial crime risks associated with them, in particular the degree of anonymity offered by the technology, which allows illicit online activity to take place undetected. Mr. Doxey explains the specific techniques forensic accountants can use to investigate cryptocurrency transactions, arguing that cryptocurrencies can be an asset, not an obstacle, for the forensic accountant, as every transaction is recorded in the blockchain for all to observe and analyze. Once cryptocurrency technology is understood, the forensic accountant can use a range of traditional and new tools to crack open transaction secrets.
Financial Forensic Services for Internal Investigations
In this chapter of the book The Comprehensive Guide to Economic Damages, authors Peter Resnick and Greg Naviloff provide an overview of: White-collar crimes...