Unveiling the crypto-terror nexus: law enforcement intelligence challenges against terrorist financing

Michael Kushelevitch

Journal of Financial Crime, 2024, vol. 32, issue 2, 403-415

Abstract: Purpose - This study aims to explore the impact of cryptocurrency on intelligence activities by law enforcement agencies, focusing on the changing landscape due to its exploitation by terrorist organizations. Investigating the dual nature of cryptocurrency as a global payment system and a potential threat to national security, the purpose is to understand how law enforcement adapts its strategies in response to this evolving challenge. Design/methodology/approach - The research uses a comprehensive approach by analyzing the integration of research and collection stages within the intelligence circle, particularly emphasizing blockchain analysis. By examining the actions of law enforcement authorities in the case study of Hamas’ crypto fundraising campaign, the study highlights how open-source information, accessible through blockchain, allows for strategic collaboration between law enforcement authorities and specialist companies in the field of intelligence analysis. This methodology enables law enforcement to enhance their intelligence gathering capabilities to trace illicit activity by terrorist organizations, leading to a successful seizure of crypto funds. Findings - The findings reveal a symbiotic relationship between terrorist organizations and the crypto space, with the latter becoming an attractive means for financing activities. Law enforcement, in response, has evolved its intelligence practices, combining collection and research to trace and crack down on illicit crypto transactions. Originality/value - The study sheds light on the dynamic challenges faced by law enforcement in maintaining an effective intelligence response to the ever-evolving methods used by terrorist organizations in using cryptocurrencies.

Keywords: Intelligence; Crypto; Terror; Financing; Enforcement (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jfcpps:jfc-12-2023-0330

DOI: 10.1108/JFC-12-2023-0330

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