Blockchain: Revolutionary technology… or the perfect opportunity for fraudsters

Taxing Matters

In recent times it seems that the word crypto, and the underlying blockchain technology associated with it, is on everyone’s lips. From Elon Musk's effect on the price of Bitcoin to non-fungible tokens in the art world, the debate rages over whether blockchain will revolutionise the world or lead to the dismantling of the existing order.

Many critics have focused on the potential opportunities it might create for fraudulent behaviour. Helping us sort fact from fiction we are delighted to be joined by three of the founding members of the Crypto Fraud and Asset Recovery Network (CFAAR); the world’s first global network consisting of, amongst others, lawyers, accountants and asset recovery specialists.

Carmel King is a Director at Grant Thornton who specialises in asset tracing and recovery for victims of fraud; Dan Wyatt is a Partner at RPC and Chris Whitehouse is a Senior Associate at RPC – both advise on a range of civil and cyber fraud matters, including on the recovery of misappropriated assets.

References

· Crypto Fraud and Asset Recovery Network

· AA v Persons Unknown

· Wang v Darby

· Fetch.AI v Persons Unknown

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