Challenges and risks of cryptocurrency crime

The Netherlands and the Seychelles are collaborating closely to combat cryptocurrency-related crimes. An upcoming mission from the northwestern European nation is anticipated to visit the island nation later this year, as revealed by the outgoing Dutch ambassador in early April.

Outgoing Dutch Ambassador to Seychelles Maarten Brouwer made the announcement to reporters after his farewell visit to President Wavel Ramkalawan at State House. Brouwer said that one of the highlights of his tenure was the cooperation between the two countries’ public prosecutors’ offices working on cryptocurrency.

The mission expected from the Netherlands aims to « discuss what’s happening in Seychelles and what we’re noticing about it », he said. He added that cryptocurrency is one of the markets that criminals use to finance their needs.

« We have a clear interest in fighting the global organizations that are attacking them, not only by seizing their drugs coming into the ports, but also by undermining their financial structure », the outgoing ambassador said.

Moreover, Brouwer stressed the necessity for his country to engage with various countries and regions to gain insights into their operational strategies. Additionally, discussions encompassed maritime safety and the transit of container ships through the Red Sea, crucial for Seychelles given the potential cost implications if routes are disrupted.

Notably, Seychelles recently joined Operation Prosperity Guardian, led by the United States, to enhance safety for ships traversing the Red Sea, with the Netherlands also participating in the initiative.