Uspis Crypto Fund Program is ineffective, says the internal revision
Uspis Crypto Fund Program is ineffective, says the internal revision
The current Uspis cryptofond program shows a lack of standardized training of employees
There are options for theft or abuse if crypto is used during the UsPIS examinations
The boom on the cryptocurrency market in recent years has led to an increase in crimes with virtual tokens, which confronted law enforcement authorities around the world with the industry for digital assets.
An internal audit of the United States Postal Inspection Service (USPIS) has unveiled that the law enforcement authorities of the postal service arise for the challenges that are greatly prepared by crypto-based investigations.
While the USPIS has so far only been exposed to crypto fraud or use, the office of general inspector emphasizes the need for comprehensive crypto training that states that crypto-good resources for preferred Online fraud, ransomware and money laundering are.
The aim of the exam was to examine the effectiveness and understanding of the shortcomings of the Uspis "Cryptocurrency Fund" of the USPIs set up in 2017.
The Cryptocurrency Fund program aimed to introduce civil servants in a number of guidelines in order to take into account the use of crypto in investigations and to limit operational risks. During the examination it was recognized that the anonymity of transactions with digital assets in conjunction with the volatility of the cryptom market had created opportunities for theft or abuse if crypto was used during the investigation.
The test report also came to the conclusion that post -inspectors who worked hidden and bought crypto in the context of such operations that did not maintain the guidelines specified in the program.
With the highlighting of the problems raised by the program, the report pointed out that there were not only legitimate cases in which the use of the program was not possible due to payment requests in certain private currencies, but also the communication between managers and inspectors in the report not used.
The program therefore does not take into account the total amount of crypto used for examinations throughout the USPIs, according to the report. In addition, a manual keyword search showed over 1,000 unique cases in which crypto was used, but was not shown exactly in the system.
"The program is unable to fulfill one of its main purpose - to support post inspectors in coping with the challenges in connection with the inherent volatility of cryptocurrencies - which ultimately makes the post inspection service susceptible to theft, abuse and mismanagement of federal funds."
The Audit recommended that the current data management system for crypto transactions in investigations and found that the USPIS should in future offer a comprehensive crypto training program under technical supervision.
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Source: Coinlist.me