22 Jan 2018
The corporate watchdog wants new powers for its investigators to go undercover to combat financial crime on the dark web.
The Australian Securities and Investment Commission has said it needs more investigatory powers because the increasing use of the dark web and virtual currencies such as bitcoin has facilitated financial crime.
These include powers to operate and secure electronic devices, for investigators to take “assumed identities”, and to gain access to phone tap materials to help prosecute serious offences.
The reform calls are included in Asic’s submission to a parliamentary inquiry examining the impact of new information and communications technology on law enforcement.
Asic said it was “committed to supporting innovation” but developments in technology “can create risks for new forms of financial crime and pose a number of challenges” to its law enforcement capabilities.
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