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Tracking illicit money flows

Project description

New tools to map criminal money trails

Today’s transnational criminal networks are adaptable and increasingly using the latest technologies. In this context, the EU-funded TRACE project will explore the rise and spread of ICT-enabled crimes and illicit financial flows (IFFs). Considering that innovative policing tools are required to patrol the virtual routes, the project will focus on new ways to identify, track and document IFFs. In consultation with law enforcement agencies, the project will apply its solutions in use cases on terrorist financing, web forensics, cyber extortion and use of cryptocurrencies in money laundering in arts and antiquities, and online gambling. It will also set up a working group of law enforcement agencies and other stakeholders to discuss good practices in information sharing.

Objective

With the rise and spread of ICT-enabled crimes and illicit financial flows (IFFs), law enforcement agencies (LEAs) and financial intelligence units (FIUs) need innovative policing tools in the virtual sphere as well as skills, organisational and regulatory adaptations to counter these threats. TRACE will focus on input (forming initial suspicion), processing (substantiating suspicion, collecting evidence, locating suspects and their assets) and output (producing court proof / admissible e-evidence) to develop ICT-enabled solutions to identify, track and document IFFs, to pave the way for recovering the proceeds of crime and to disrupt the IFFs. TRACE will apply its solutions in use cases on terrorist financing, web forensics, cyber extortion, use of cryptocurrencies in property market transactions, money laundering in arts and antiquities, and online gambling, all of which have been developed in consultation with LEAs. TRACE will make recommendations on harmonisation of information formats in suspicious activity reports. Heretofore the differences and fragmented use of e-evidence in criminal justice processes have hindered cross-border investigations, prosecutions and convictions and recovery of assets. TRACE will create an open source platform for LEAs and for advancements in technology-based solutions in policing. With stakeholder engagement from the outset, the TRACE partners will co-develop advanced investigation tools and test and validate their efficacy in detecting IFFs. TRACE will also create a working group of partner LEAs and Stakeholder Board LEAs to discuss good practices in information sharing among EU LEAs. The project will create a Stakeholder Board of about 20 key stakeholders and an Ethics Advisory Board comprising four external ethics experts and two partners. TRACE has a multidisciplinary consortium comprising LEAs, AI technology companies, academia, research institutes and NGOs with track records of delivering cutting edge EU projects.

Call for proposal

H2020-SU-SEC-2018-2019-2020

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Sub call

H2020-SU-SEC-2020

Coordinator

COVENTRY UNIVERSITY
Net EU contribution
€ 963 875,00
Address
PRIORY STREET
CV1 5FB Coventry
United Kingdom

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Region
West Midlands (England) West Midlands Coventry
Activity type
Higher or Secondary Education Establishments
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Total cost
€ 963 875,00

Participants (17)