Submitting OIG:
Report Description:
Our objective was to evaluate the effectiveness of U.S. Postal Inspection Service policies and procedures for managing cryptocurrency in its law enforcement activities.
Cryptocurrency is a decentralized form of digital currency that uses a blockchain, or public ledger, to record transactions. The anonymity of cryptocurrency transactions and the significant fluctuations in the value of cryptocurrency create opportunities for abuse or theft when used during law enforcement activities. We evaluated the Postal Inspection Service’s use and seizure of cryptocurrency in cases closed in fiscal years (FY) 2019 and 2020. The Postal Inspection Service established the Cryptocurrency Fund Program (the Program) in 2017 to establish standards and policies to account for cryptocurrency transactions and reduce operational risk.
Date Issued:
Thursday, August 26, 2021
Agency Reviewed / Investigated:
Submitting OIG-Specific Report Number:
21-067-R21
Location(s):
Agency-Wide
Type of Report:
Audit
Questioned Costs:
$0
Funds for Better Use:
$0
Number of Recommendations:
4
View Document:
Attachment | Size |
---|---|
21-067-R21.pdf | 2.97 MB |