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Developing AI Solutions to Disrupt Illicit Money Flows

Welcome to the TRACE project's third newsletter issue!

Every year, cross-border investigations into illicit money flows are hindered by fragmented e-evidence. The TRACE project addresses this issue by delivering a modular open-source framework for money-laundering investigations which can be tailored to meet the needs of law enforcement agencies.

In this third edition of our newsletter, we summarise some key progress since our last update.

Project updates

TRACE Consortium meets in Tallinn

In September 2022 the TRACE consortium met in Tallinn to assess progress and coordinate the next steps of its work creating cutting-edge AI tools to disrupt illicit money flows. The Estonian Tax and Customs Board hosted the partners, and you can read more about this meeting here.


TRACE partners discuss technical plans in Vienna

In July 2022, the TRACE project technical partner (AIT) and socio-legal research partners (Coventry University and VICESSE) met at the Austrian Institute of Technology in Vienna. They discussed the technical development plans for the project, and you can read more here. 



DeFi Regulation in the EU: should we act now? 

EU states continue to take significant steps towards improving crypto regulation, but there are gaps. Dr Bogdan Adamyk and Professor Vladlena Benson, from Aston University, highlight the issues with Decentralised Finance (DeFi).


Registries of beneficial owners in the European Union: Freedom of information or protection of privacy?

A recent ruling from the Court of Justice of the European Union on beneficial ownership regulations raises questions for transparency and the fight against money laundering. Dr Dimitris Kafteranis and Professor Umut Turksen from the Research Centre for Financial and Corporate Integrity at Coventry University explain the implications. 


Anti-Money Laundering/Combating the Financing of Terrorism Compliance: Europe to implement more comprehensive regulation for cryptoassets

Crypto regulation is evolving fast, and this TRACE blog gives a a useful summary of the current landscape.


Response of the EU-funded projects to the EC consultation on a proposed Cyber Resilience Act

Our partners at Coventry University respond to the European Commission call for input on a proposed Cyber Resilience Act. 


How can Law Enforcement Agencies tackle terrorism using web forensics?

Our partners from the Czech National Organised Crime Agency advise on the use of web forensics to tackle terrorism. 


LEA cluster updates

Recognising that our projects have common stakeholders and similar objectives in supporting law enforcement against organised crime and terrorism, we have formed the LEA cluster with other H2020 projects including: CCDriverCOPKIT, CYCLOPES, DARLENEINSPECTrLOCARD, PREVISION, PROTAXRAYUELA and ROXANNE. 

Valencia, Spain, will host the International Summit on Youth and Cybercrime on 1st March 2023, within the framework of the CC-DRIVER and RAYUELA projects. These initiatives are funded by the European Union to understand the drivers of cybercriminality, and research methods to prevent, investigate, and mitigate cybercrime. The International Summit, hosted by Valencia Local Police, will be a discussion forum where high level experts in the field can share their research and best practices to better tackle cybercrime across the EU and beyond. CC-DRIVER and RAYUELA will present their results and main findings to an audience composed of regional and national planners, policymakers, law enforcement agencies, research and academia, education and other experts in the field of cybersecurity. Details and sign-up instructions can be read here.


The CYCLOPES project has released a number of public reports, based on workshops with practitioners in the field of cybercrime. These address cybercrime relating to remote desktop protocols, digital forensics on wearable tech, social engineering, and automotive digital forensics, and these outputs and others are freely available on the CYCLOPES website

The final conference of the ROXANNE project was hosted by Capgemini Technology Services and took place on 29th November at Campus Cyber, Paris, and online. ROXANNE is grateful to everyone who was involved with this very successful event, which saw around 110 participants attending in person and online. ROXANNE hosted people from all over the world, with varied backgrounds in LEAs, or as researchers, policymakers, representatives from industry, or members of civil society organisations or the external ethics board. Consortium partners presented the project’s achievements, the ethical approach to ROXANNE, the latest capabilities of the Autocrime platform (including tools that partners have developed), and the training platform and police use cases. Two panel discussions were organised to demonstrate connections beyond the ROXANNE project, and show the potential life of the Autocrime platform after the project ends. The first was dedicated to common challenges, future collaborations and future research directions with other projects, and the second presented the exploitation path for ROXANNE tools and discussed this with LEAs. Participants found the presentations and conversations to be interesting and fruitful, and more can be read about the event here.


This project has received funding from the European Union’s Horizon 2020 research and innovation program under grant agreement No 883543.


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