Add as a preferred source on GoogleU.S. Commits $5 Million to Strengthen Pacific Finance and Cybercrime Units
PACIFIC training will cover cryptocurrency tracing, beneficial-ownership investigations and digital forensics. The initiative is part of more than $44 million in new U.S. programming for the region.
The U.S. Department of State will provide $5 million to strengthen financial intelligence and cybercrime units in the Pacific Islands, with training and legal assistance aimed at countering illicit finance.
The Pacific Alliance for Combating Illicit Finance and Cybercrime, known as PACIFIC, plans to train officers in cryptocurrency tracing, beneficial-ownership investigations and digital forensics. U.S. legal support will help revise Pacific rules on money laundering and cybercrime to bring them into line with FATF and Budapest Convention standards.
The $5 million PACIFIC program is included in a new U.S. package exceeding $44 million, unveiled during a Los Angeles meeting of U.S. and Pacific Islands police ministers on Oct. 21-22. The broader package targets transnational criminal organizations operating in the region and includes maritime security, port controls and law enforcement training.
The announcement does not identify PACIFIC’s participating countries or detail a specific crypto investigation. It provides no seizure or recovery figures and gives no start date for the planned training.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.