US and Nigeria form alliance to fight crypto crime

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As a seasoned crypto investor with over a decade of experience navigating the digital asset landscape, I find the recent collaboration between the United States and Nigeria to counter cybercrime and illicit activities involving cryptocurrencies a promising development. The establishment of this Bilateral Liaison Group signifies a significant step towards ensuring the safety and legitimacy of digital finance activities globally.

In an attempt to combat cybercrime and illegal financial transactions related to digital currencies like cryptocurrency, the United States and Nigeria have established a Bilateral Liaison Group focused on Illicit Finance and Cryptocurrencies.

Through a collaborative effort led by the United States Department of Justice and Nigerian officials, we are working towards improving our ability to investigate cybercrimes that span international borders, given the growing global reach of digital financial transactions.

At the same time as their establishment, the team was formed following the recent freedom of Tigran Gambaryan, who is Binance‘s head of financial crime compliance. He had been held in Nigeria since February due to accusations involving money laundering and currency manipulation.

The Bi-lateral Cooperation Team collaborates to promote secure cyber activities in line with American objectives, all the while tackling complications that arise from digital financial exchanges.

As a researcher, I’m involved in a partnership that, according to the U.S. State Department, is designed to simplify cooperation between our nations’ law enforcement agencies. The goal is to bolster Nigeria’s capacity to investigate and legally prosecute cybercrimes and financial offenses involving cryptocurrencies.

Tigran Gambaryan’s release

At a crucial juncture in their “cryptocurrency connection,” the establishment of this group is noteworthy. Earlier, we discussed that the formation of this group occurred after Nigeria dropped charges against Gambaryan due to health issues. Whether these two events are linked remains unclear, but the emergence of this group could potentially improve the tense relationship.

For several months, Gambaryan has been held at Kuje Correctional Center in Abuja. Despite his poor health – which includes a herniated disk, malaria, and pneumonia – he was denied bail earlier this month. Eventually, Nigerian authorities released him, stating that the medical care he required wasn’t accessible within the prison system.

Colleague of Gambaryan, Nadeem Anjarwalla, previously detained this year, successfully fled to Kenya in March. They had both been imprisoned after a trip to Nigeria where allegations of financial irregularities were raised.

Binance consistently supported Gambaryan’s freedom, stating that he was not exercising authority on behalf of the company during his trip, and accusing Nigerian authorities of proposing a secret bribe as a solution, an allegation which Nigeria rejects.

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2024-10-25 18:30