As cryptocurrency’s role in global finance expands, so too has its exploitation by organized crime. That tension — between innovation and abuse — defined discussions this week at the 9th Global Conference on Criminal Finances and Cryptoassets, held in Vienna and jointly organized by Europol, the United Nations Office on Drugs and Crime (UNODC), and the Basel Institute on Governance.
More than 250 experts gathered in person and 1,000 joined virtually to examine how blockchain-based crimes — from drug trafficking and sanctions evasion to transnational scam operations — are reshaping the global financial landscape.
“The misuse of crypto and blockchain technology is becoming increasingly sophisticated, complex, and organized,” said Burkhard Mühl, head of Europol’s European Financial and Economic Crime Centre (EFECC). “Investigating these crimes places a significant burden on law enforcement agencies. Europol will continue to invest in innovation, technology, and cooperation with private partners.”
The message was clear: as criminals professionalize, so must the response.
From Manual Tracing to Machine Intelligence
Law enforcement and private-sector analysts showcased a new generation of tools that automate the tracing of illicit funds across blockchain networks, allowing investigators to pursue complex cases once thought untraceable.
Delegates cited cross-border operations that successfully dismantled laundering syndicates and crypto-based fraud rings as proof that intelligence-sharing and technology-driven collaboration can yield tangible results.
Yet experts also underscored a persistent gap between policy frameworks and operational realities. John Brandolino, Director of the UNODC’s Division of Treaty Affairs, said new data on “scam centers” in Southeast Asia is giving governments a clearer picture of how organized groups exploit crypto to run transnational rackets.
“Research and reliable data on crypto’s use for criminal purposes are crucial,” Brandolino said. “They allow governments to assess risks and respond appropriately — but gaps remain in legislation, implementation, and capacity.”
A dedicated breakout session urged the adoption of harmonized, evidence-based standards for blockchain forensics and crypto investigations — a goal that participants agreed was still far from reality.
The Borderless Problem of Enforcement
The conference repeatedly returned to one theme: speed. Criminal proceeds can move across the world in seconds, but inter-agency cooperation still takes days or weeks.
“Faster, more direct communication channels between investigators and prosecutors are essential,” said one European official.
The day’s discussions also highlighted the value of public–private partnerships — a model already central to tracing illicit activity on blockchain — and the emerging role of private-to-private collaboration between banks, fintechs, and virtual asset service providers.
“As traditional and decentralized finance merge, clearer channels for information-sharing will greatly strengthen efforts to detect and disrupt illicit finance,” said Ned Conway, Executive Secretary of the Wolfsberg Group, which convened a side event focused on this issue.
Building Capacity, Building Trust
While technology and coordination matter, many countries still lack the personnel and training to turn intelligence into action. For Elizabeth Andersen, Executive Director of the Basel Institute on Governance, the future of enforcement depends on human capacity.
“There’s a huge opportunity here,” Andersen said. “Through hands-on training and peer learning, countries can build the ability to detect and trace cryptoassets linked to crime — and to recover them for the benefit of victims and wider society.”
The conference closed with a call to continue expanding this global network of practice — a community that now spans law enforcement, regulators, academia, and industry.
The goal, participants agreed, is not just to keep pace with crypto-enabled crime but to ensure that financial innovation serves the public good rather than criminal enterprise.
