Launch of the Crypto Fraud and Asset Recovery network

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A group of legal professionals including attorneys, attorneys, forensic accountants, business intelligence and asset recovery experts has launched CFAAR, the Crypto Fraud and Asset Recovery network, bringing together some of the world’s biggest names in crypto litigation and advice with the aim of developing and sharing best practices in this rapidly evolving field and placing the UK and common law jurisdictions at the center of global crypto dispute resolution.

As crypto-related frauds, such as those involving cryptocurrency theft, coin initial offerings (ICOs), and ransomware attacks, continue to gain in scale and sophistication, the need for the industry Legal and its expert service providers to respond robustly and effectively in this emerging area of ​​practice requires a joint approach that provides victims of fraud with the best possible avenues of recourse.

The founding members of CFAAR – Asset Reality, Essex Court Chambers, Grant Thornton, Osborne Clarke, Rahman Ravelli, RPC, Stewarts and Twenty Essex – include practitioners leading early crypto-related litigation in English courts, as well as people actively involved in pioneering approaches to global crypto fraud investigations, forensics, advocacy, and cryptoasset tracing and recovery.

The network is looking for global professionals in the crypto sphere to join an inclusive community that will regularly host meetings, seminars, roundtables, conferences and social events to provide skills development opportunities, ideas and networks to globally, while being an independent and authoritative voice. in crypto-related legal and regulatory reviews and consultations.

Commenting independently on the launch of CFAARs, Lawrence Collins (Rt Hon Lord Collins of Mapesbury, former UK Supreme Court justice) said: Where there is innovation, criminals are not far behind . The last example is crypto fraud. Criminal repression is not a sufficient remedy for victims. Professions must arm themselves to help clients who have been victimized by scammers who deliver incredible returns on bogus deals, or who create bogus crypto assets and bogus exchanges, then hide the proceeds of crime through complex websites. . London has long been a major financial and professional center, but unfortunately it could also become a center of international financial crime. CFAAR is particularly well placed to create networks in order to develop remedies to prevent exploitation and help victims.

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