<div class="cryptonews"> 
 <p class="is-style-lead">CFTC official offers to create a centralized database to strengthen fraud prevention, especially amidst the escalating crypto-related ransomware attacks reported in 2023.</p> 
 <p class="is-style-default">Commodity Futures Trading Commission (CFTC) official Christie Goldsmith Romero offered to develop a national registry to make it easier for investors and law enforcement to find records of financial fraud convictions and civil penalties.</p> 
 <p>According to Reuters, speaking at the conference, she demanded that US regulators <a rel="noopener noreferrer nofollow" title="develop" href="https://thebittimes.com/tag/develop.html">develop</a> a centralized <a rel="noopener noreferrer nofollow" title="database" href="https://thebittimes.com/tag/database.html">database</a> of financial irregularities. This can help fight scammers.</p> 
 <blockquote class="wp-block-quote"> 
  <p>“This would be a comprehensive record that the public can easily check before giving someone their money, their trust and their business.”</p> <cite>Christie Goldsmith Romero, CFTC official</cite> 
 </blockquote> 
 <p>Goldsmith Romero noted that such a registry would help the government find repeat offenders and deter potential scammers.</p> 
 <blockquote class="wp-block-quote"> 
  <p>“We know that <a rel="noopener noreferrer nofollow" title="fraud" href="https://thebittimes.com/tag/fraud.html">fraud</a> is massively present in the crypto space, but there’s so much disjointed information to people to try to get to.”</p> <cite>Christie Goldsmith Romero, CFTC official</cite> 
 </blockquote> 
 <h2 class="wp-block-heading" id="not-the-first-offer-from-goldsmith-romero">Not the first offer from Goldsmith Romero</h2> 
 <p>Goldsmith Romero first proposed developing a registry several years ago. She then led the rescue program from the 2009 financial crisis. Last March, she joined the Commodity Futures Trading Commission as one of five commissioners.</p> 
 <p>She launched a <a rel="noopener noreferrer nofollow" title="database" href="https://thebittimes.com/tag/database.html">database</a> to search for financial crimes in her previous position. They were associated with the Troubled Asset Relief Program&nbsp;(TARP). Such a <a rel="noopener noreferrer nofollow" title="database" href="https://thebittimes.com/tag/database.html">database</a> could become a model for a larger national registry that federal regulators could create and in which state regulators could also participate.</p> 
 <div class="cn-block-related-link"> 
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 </div> 
 <h2 class="wp-block-heading" id="crypto-attacks-continue-to-grow">Crypto attacks continue to grow</h2> 
 <p>The idea of creating a base for national financial <a rel="noopener noreferrer nofollow" title="fraud" href="https://thebittimes.com/tag/fraud.html">fraud</a> appeared along with the growth of the cryptocurrency surge in the first half of 2023.</p> 
 <p>According to a recent report from Crypto Crime, ransomware attacks have increased sharply in the first half of 2023. In the first half of 2023 alone, ransom attacks amounted to $449.1 million.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> CFTC charges individuals with crypto fraud 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/us-cftc-official-calls-for-developing-fraud-database-tbt62381.html">https://thebittimes.com/us-cftc-official-calls-for-developing-fraud-database-tbt62381.html</a></p>

US CFTC official calls for developing fraud database

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