Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Submit Press Release
  • Disclaimer
  • Crypto Trading
  • Cryptocurrency
  • News
  • Regulation

UK-based Independent Legal Team To Tackle International Crypto Dispute

Alicia Maher August 9, 2021 3 min read

Crypto specialists throughout the United Kingdom’s legal trade announced the launch of the Crypto Fraud and Asset Recovery (CFAAR) network, a community aimed towards offering redress against crypto-related fraudulent activities. The CFAAR is made up of various professionals, like, “lawyers, barristers, forensic accountants, corporate intelligence and asset recovery experts.”

This recent launch of the CFAAR network is associated with the consistent rise in fraudulent activities such as theft, initial coin offerings and ransomware attacks and others. Through a united approach from legal experts, CFAAR’s team aims to “respond robustly and effectively” to crypto crimes and fraud by delivering “the best possible means of redress.”


trade now

Crypto Fraud And Asset Recovery (CFAAR) Network

Asset Reality, Essex Court Chambers, Grant Thornton, Osborne Clarke, Rahman Ravelli, RPC, Stewarts and Twenty Essex are the founding members of the U.K.-based crypto legal team, CFAAR. According to the announcement to launch this legal team: 

“[CFAAR] include practitioners leading the first crypto-related disputes before the English courts, as well as those actively involved in pioneering approaches to global crypto fraud investigations, forensics, advocacy and the tracing and recovery of crypto assets.”

Though the network still needs further participation from crypto experts, it has explained its intention to stand as “an authoritative and independent voice in crypto-related judicial and regulatory reviews and consultations.” Citing this new launch, former Justice of the U.K. Supreme Court Lawrence Collins said:

“Criminal enforcement is not a sufficient remedy for victims. London has long been a pre-eminent financial and professional center, but unfortunately, it may also be turning into a centre for international financial crime.”

Recent Update on Crypto Crime

A recent report accentuated the oncoming rise and increase in crypto scams and fraud as established by the statistics laid out by the City of London police and the Crown Prosecution Service (CPS). While current findings imply that there is no immediate threat, the CPS measures 86% of the total reported frauds to be cyber-related as citizens continue to choose and use online services. 

The report showed that almost 21% of the 27,187 recorded cybercrime were associated with cryptocurrency investments. However, in the bigger picture, cryptocurrency-related crime amounts to just 0.6% of the total 822,276 fraud issues. According to Statista, hacks and threats in the crypto space were 160% higher in 2019 than in 2020, suggesting that over that window, the crypto trading environment had become more mature and able to identify threats easily. The decline was also attributed to the absence of the PlusToken scheme.

More Information on CFAAR

Collins said that criminal enforcement would not remedy for the “victims of fraudsters who offer unbelievable returns in fake offerings, or who create false crypto assets and false exchanges, and then hide the proceeds of crime through complex webs.” The eight founding member law firms pioneering this network intend to make it an industrial voice on crypto-related scams. The practitioners will be leading the center stage for digital asset disputes in the English court system. Notably, the group of law firms is well-known for spearheading crypto fraud investigations, advocacy, and forensics. They also have a reputation for the tracing and recovery of assets. 

Trade Now

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Continue Reading

Previous: Ethereum Network Burned $30 Million worth of ETH within 48 Hours of EIP-1559 Launch
Next: Group-500 Review – One of The Best Custom Trading Platforms

Related Stories

Bitcoin Adoption By Guatemalan Merchants Increases Through Tattoos 
3 min read
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Mining
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News
  • Stablecoin
  • Terra (LUNA)

Bitcoin Adoption By Guatemalan Merchants Increases Through Tattoos 

February 2, 2023
Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report
2 min read
  • Altcoins
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News

Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report

February 2, 2023
Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds
3 min read
  • Cryptocurrency
  • Metaverse
  • News
  • Regulation
  • Scam / Hack
  • Web3

Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds

February 2, 2023

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$23,541.00
-1.59%
ethereum
Ethereum (ETH)
$1,641.80
-2.05%
tether
Tether (USDT)
$1.00
0.02%
binancecoin
BNB (BNB)
$320.05
-2.12%
usd-coin
USD Coin (USDC)
$1.00
-0.02%
ripple
XRP (XRP)
$0.411476
-0.80%
binance-usd
Binance USD (BUSD)
$1.00
0.02%
cardano
Cardano (ADA)
$0.399589
-2.09%
dogecoin
Dogecoin (DOGE)
$0.091589
-3.10%
polkadot
Polkadot (DOT)
$6.59
0.54%

Recent Posts

  • Trade.com Review – Is Trade.com Scam or a Proper Broker?
  • Bitcoin Adoption By Guatemalan Merchants Increases Through Tattoos 
  • Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report
  • Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds
  • Ripple Realizes Strong Growth with $226M XRP Sold in Fourth Quarter
  • India 2023 Budget Retains Strict Crypto Tax Rules
  • Where Did Terra Developers Go After Network Collapsed?
  • Core Scientific Strikes $70M Loan Deal With B. Riley
  • BTC Miner Greenidge Reduces $72M Debt With NYDIG To $17M
  • South Korean Law Enforcement Investigates $8M Crypto Scam Targeting Investors
  • Floki Won’t Actually Burn $115M Worth of Tokens: Here’s Why
  • HSBC Reveals Crypto Industry Move with Job Openings
  • Binance Shuts Down Several Accounts Amid Bitzlato Investigation
  • ETH Added An Average Of Over 130,000 Addresses Daily In 2023
  • UK’s Charity Commission Probes Charity Organization Linked To FTX

Categories

You may have missed

Trade.com Review – Is Trade.com Scam or a Proper Broker?
4 min read
  • Cryptocurrency Brokers

Trade.com Review – Is Trade.com Scam or a Proper Broker?

February 3, 2023
Bitcoin Adoption By Guatemalan Merchants Increases Through Tattoos 
3 min read
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Mining
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News
  • Stablecoin
  • Terra (LUNA)

Bitcoin Adoption By Guatemalan Merchants Increases Through Tattoos 

February 2, 2023
Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report
2 min read
  • Altcoins
  • Bitcoin (BTC)
  • Blockchain
  • Crypto Trading
  • Cryptocurrency
  • Decentralized Cryptocurrency Exchange (DEX)
  • News

Recent Bullish Crypto Market Yields Approximately 44,000 New Bitcoin Millionaires – Report

February 2, 2023
Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds
3 min read
  • Cryptocurrency
  • Metaverse
  • News
  • Regulation
  • Scam / Hack
  • Web3

Hong Kong To Facilitate Institutional Investors With Tokenized Green Bonds

February 2, 2023
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%