Crypto is Increasingly Used in Human Trafficking, Report Says

A new report released by the Government Accountability Office (GAO) earlier this year says that virtual currencies are being used more and more frequently in human trafficking transactions.

The study pointed to several pieces of research in support of their claim. First, the surge is evidenced by a five-fold increase in the number of suspicious activity reports filed with the Financial Crimes Enforcement Network (FinCEN) that involve virtual currency—up from 252 in 2017 to over 1,400 in 2020.

Second, it is evidenced by 2020 data from Polaris, a nonprofit organization heavily involved in anti-human trafficking efforts.

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