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Explaining prosecution outcomes for cryptocurrency-based financial crimes

Trozze, A; Davies, T; Kleinberg, B; (2022) Explaining prosecution outcomes for cryptocurrency-based financial crimes. Journal of Money Laundering Control 10.1108/jmlc-10-2021-0119. (In press). Green open access

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Abstract

Purpose: Cryptocurrencies have been used to commit various offences, but enforcement efforts remain underdeveloped relative to the value of these crimes. This paper aims to examine factors associated with outcomes of US-based cryptocurrency financial crime prosecutions. // Design/methodology/approach: The authors studied the 37 resolved cryptocurrency-based financial crime cases in the USA to date, exploring the impact of offence, defendant and evidence characteristics on the mode of disposition and penalties. The authors used bivariate analyses and logistic regression models to determine relationships among these variables. // Findings: The presence of individual defendants only (rather than a corporate defendant or combination thereof) and the use of only a cryptocurrency other than Bitcoin in committing a crime each made a case less likely to be resolved by dismissal, trial or summary or default judgement. // Originality/value: This paper is the first to examine variables contributing to financial crime prosecution outcomes and has implications for prosecutorial decision-making, resource allocation and the prevention and detection of financial offences involving cryptocurrencies.

Type: Article
Title: Explaining prosecution outcomes for cryptocurrency-based financial crimes
Open access status: An open access version is available from UCL Discovery
DOI: 10.1108/jmlc-10-2021-0119
Publisher version: https://doi.org/10.1108/JMLC-10-2021-0119
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher's terms and conditions.
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > Dept of Security and Crime Science
URI: https://discovery.ucl.ac.uk/id/eprint/10141126
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