mod caucus third topic - Implications and regulation of the misuse of the dark web

in financial crime

The dark web presents a significant challenge in the fight against financial crime.
This hidden part of the internet harbors illegal activities, making it difficult
for law enforcement to track criminals.

To Understand the Landscape:

The first issue is Anonymity: The dark web facilitates anonymity for users, making
it attractive for those seeking to conduct illegal transactions.
The second issue is Financial Tools: Cryptocurrencies can be used in illegal
transactions due to their anonymous nature, further complicating investigations.

Some of these cases are:

In 2021, authorities disrupted a dark web marketplace responsible for facilitating
billions of dollars in illegal transactions, including the sale of drugs and stolen
data.
Cybercriminals use the dark web to advertise hacking services, malware, and stolen
financial information.
Some Regulatory Considerations Would be to :

Balance Security and Privacy: Finding the right balance between regulating online
activity and protecting individual privacy is a complex issue along with
International Cooperation: Developing a unified approach to regulating the dark web
across different countries is necessary to effectively combat global financial
crime.