A team consisting of a variety of legal professionals in the industry, consisting of forensic accountants, barristers, lawyers, asset recovery and corporate intelligence experts have banded together. The main reason why all of them have joined hands is that they are responsible for the launch of the CFAAR. For those who don’t know, CFAAR stands for Crypto Fraud and Asset Recovery. One of the best things about this network is that it will bring together various renowned names in the crypto world.
One of the main purposes of this network is to make sure that people share and develop best practices related to crypto. It will also help make sure that countries all over the world abide by their various crypto regulations. This step will undoubtedly ensure that the crypto industry thrives and various types of crypto prosper altogether, making people loads and loads of profits.
Most of you are most likely aware of the fact that there is no shortage of crypto fraud these days. As a matter of fact, ransomware attacks and crypto theft are arguably two of the main problems faced by thousands upon thousands of crypto investors. Therefore, it would be fair to say that a network like this was born out of necessity and will help keep things in line for the years to come.
What’s more, the introduction of such a network would be of great help to various service providers. It will help them offer quick and timely responses while making sure that fraud victims are able to recover their assets without too much hassle. Of course, since the network is relatively new, its success rate is not a hundred percent yet. However, there are high expectations connected to this project as everybody wants crypto to become a reliable currency for everybody to use.
As you would expect, CFAAR has several founding members, with the main ones being RPCS. Osborne Clarke, Essex Court Chambers, Rahman Ravelli, and several others. All of these individuals are highly reputable in the world of crypto and want nothing but the best for this highly flourishing industry. That being said, the network is still in its primitive days. According to reports, the network has been searching for various professionals who are well versed with the world of crypto.
Recruiting these individuals would prove to be a tremendous choice as it will not only improve the network as a whole but would also help sustain it for the long run.