Cifas CEO: Strengthen Data Sharing to Combat Cryptocurrency Fraud
ChainCatcher news, according to Cointelegraph, Cifas CEO Mike Haley pointed out that the amount of cryptocurrency fraud in 2024 will reach $9.9 billion, with 90% of UK crypto applications failing anti-money laundering checks. Experts suggest that the crypto industry should emulate the traditional financial sector by establishing cross-industry data sharing mechanisms to address the increasingly severe fraud issues.The UK's Information Commissioner's Office recently made it clear that data protection should not be an obstacle to combating fraud. With the introduction of the Data Use and Access Act 2025, the UK is creating a favorable policy environment for data sharing in the crypto industry.
