Company's brand collaborates with the IWF to thwart cryptocurrency and blockchain-based funding of child abuse
In a strategic move to create a safer digital environment, London-based digital asset decisioning company Elliptic has partnered with the Internet Watch Foundation (IWF). This collaboration aims to prevent the financing of child sexual abuse images and videos using cryptocurrencies by integrating IWF's expert data on cryptocurrency payment addresses linked to such content into Elliptic's blockchain analytics platform.
Giuseppe Fersini, Head of Intel at Elliptic, stated, "Our goal is to make the crypto industry a safe environment, including stopping actors using the system to send or receive profits from child sexual abuse online." The partnership is expected to boost IWF's fight to end child sexual abuse material online and support enforcement efforts worldwide.
The IWF, globally recognised for its work in identifying and removing child sexual abuse imagery from the internet, contributes to this collaboration by analysing websites hosting the worst types of child abuse imagery and sharing payment information related to these illegal transactions with Elliptic and other members. This generates virtual currency alerts that help prevent the misuse of services and expose payment networks involved in this criminal activity.
Through this collaboration, Elliptic helps disrupt the payment networks used to sell child sexual abuse material online. By incorporating IWF's data, Elliptic enhances its ability to identify and block transactions associated with child exploitation, thereby protecting its clients and their platforms from being exploited by criminals.
This partnership not only safeguards the crypto industry but also empowers law enforcement agencies to more effectively trace and disrupt these criminal networks. Interim IWF CEO Derek Ray-Hill stated, "IWF analysts find images and videos of some of the worst types of child sexual abuse on websites that profit from the sale of this horrific content."
By combining their blockchain intelligence capabilities with IWF's expertise, Elliptic aims to build a safer digital ecosystem for everyone. This collaboration represents a significant advancement in the proactive identification of illicit financial networks. It enables the identification of payment networks being used globally to sell child sexual abuse imagery, thereby contributing to the global fight against online child exploitation.
[1] This partnership not only strengthens Elliptic's brand name's commitment to making the crypto industry a safe environment but also empowers law enforcement agencies to more effectively trace and disrupt these criminal networks, creating a significant impact in the global fight against online child exploitation.
Elliptic's collaboration with the Internet Watch Foundation (IWF) not only reinforces its dedication to transforming the crypto industry into a safer environment, but also empowers law enforcement agencies to trace and disrupt criminal networks associated with child sexual abuse material online, significantly impacting the global fight against such exploitation in the realm of general-news and crime-and-justice.
Through the integration of IWF's expert data into their blockchain analytics platform, Elliptic strengthens its ability to identify and block transactions linked to child exploitation, furthering their mission to build an elliptic digital ecosystem.
