FinCEN Hires Chief Digital Currency Advisor to Fight Cybercrime

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In Brief
  • FinCEN has announced the hiring of Michele Korver as its first ever Chief Digital Currency Advisor.

  • Korver formerly worked as an advisor for the DOJ and as a special agent for the Secret Service.

  • The hire is the latest step for the United States Government to try and combat cybercrime such as ransomware attacks and money laundering.

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The Financial Crimes Enforcement Network (FinCEN) has added a powerful tool in its fight against cybercrimes with the hiring of Michele Korver.

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FinCEN announced on Tuesday it has hired its very first Chief Digital Currency Advisor in Michele Korver. Korver has been a part of anti-money laundering projects that focus on digital currencies, and will bring nearly a decade of experience to the position. Korver formerly worked with the United States Department of Justice’s (DOJ) criminal division as a digital currency council. There Korver advised attorneys representing the government along with federal agents about matters pertaining to digital currencies including prosecutorial strategies. 

During her time with the DOJ, Korver also worked as advisor to the United States Department of the Treasury’s Financial Stability Oversight Council and the United States delegation to the Financial Action Task Force. Korver was an integral member of the team that put together policies and legislation for cryptocurrency seizures and forfeitures. Before that, Ms. Korver was an assistant United States Attorney in Denver for more than a decade. During her stint in Colorado, Korver served as a prosecutor for cybercrimes specializing in money laundering schemes and drug rings operating on the dark web. A graduate of Miami School of Law and the University of Florida, Korver started her career with the United States Secret Services as a special agent. 

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In her new role, Korver will be asked to “advance FinCEN’s leadership role in the digital currency space by working access illicit financial practices and exploitation.” 

According to the acting director of FinCEN, Michael Mosier, Korver was a natural choice for the position given her extensive background in digital currency legislation and investigating. “Michele brings a wealth of digital currency expertise and will be a tremendous leader in coordinated efforts to maximize FinCEN’s contribution to the innovative potential for financial expansion of opportunity while minimizing illicit finance risk.”

FinCEN ramping up anti-money laundering efforts

The Financial Crimes Enforcement Network has made it a top priority to delve into the world of cryptocurrencies in order to root out money launderers. Earlier in July, the agency stated that digital currency transactions will fall under the microscope in order to counter money laundering, tax evasion, and terrorist activities. 

Concerns over the illicit uses of cryptocurrency have been a hot topic lately, with President Joe Biden making a point to discuss the issue at the latest G-7 Summit. As the popularity of crypto grows, more stories of cybercrimes are popping up, and it is clear the U.S. Government is trying to nip the issue in the bud so to speak.

Ms. Korver was not the only significant hire that FinCEN announced this morning. It also added Jayna Desai as the agency’s first director of strategic communications. A graduate of the London School of Economics and Houston Baptist University, Desai has served as Senior Policy Advisor for the United States Customs and Border Protection’s Office of Operations Support and Senior Public Affairs Advisor. “These are incredible people for an incredible moment for FinCEN and the financial integrity space writ large,” concludes Mosier.

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Matthew De Saro is a journalist and media personality specializing in sports, gambling, and statistics. Before joining BeInCrypto, his work was featured on Fansided, Forbes, and OutKick. With a background in statistical analysis and a love of writing, he takes an outside-the-box approach to reporting news.

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