US: IRS contracts NCFTA to fend off cybercrime

Thursday 15 May 2014 13:10 CET | News

The US Internal Revenue Service (IRS) will award the National Cyber-Forensic Training Alliance (NCFTA), a cyber-security nonprofit organization, with a contract to research crimes involving digital currencies, reports.

The one-year sole source order, published on behalf of the US Treasury Department, the Office of Illicit Finance (OIF) and the Office of Intelligence and Analysis (OIA), agrees that NCFTA would study virtual currency and virtual currency exchanges to provide the federal government with real-time cyber threat intelligence for combating financial crimes, the same source cites.

NCFTA was founded in 1997 by Federal Bureau of Investigation (FBI), Carnegie Mellon’s Computer Emergency Response Team (CERT) and the National White Collar Crime Center.

The NCFTA was one of several organizations to join a cyber-security trade coalition founded in the wake of the Target customer data breach scandal in early 2014. The non-profit is also involved with other projects targeting malware and digital consumer protection standards.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: US, IRS, NCFTA, cybercrime, digital currency, money laundering, contract, financial crime
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

Industry Events