Virtual Currency's Role in West Balkan Crime Networks Intensifies

According to PANews, a recent study by the Global Initiative Against Transnational Organized Crime (GI-TOC) reveals that virtual currencies are increasingly significant in criminal activities in the West Balkan region. Criminal networks in the area have transferred tens of millions of euros through cryptocurrency wallets. While the legal use of cryptocurrencies is on the rise, illegal activities involving them are also rapidly increasing, particularly in countries like Albania and Serbia. So far, only three cases of cryptocurrency asset seizures have been reported in the region. GI-TOC analysts highlight that local authorities face challenges in regulation, technical expertise, and cross-border cooperation, making the region vulnerable in combating illegal virtual currency activities.