The Silk Road Case

1071 Words 4 Pages
Short Write up on Silk Road

Silk Road was an online black market for selling and buying of illegal products. They used to trade drugs and transact through bitcoin currency. Bitcoin is a form of digital currency which uses encryption and the transactions are undetectable. There was involvement of large transactions of money and the unfair means of selling and buying of drugs and other banned substances were done. This platform provided a safe house for criminals to trade drugs.
Silk Road was an effective means for criminals to go undetected by the law enforcement and federal agencies. Within a short span of time, they were operating worldwide and they had spread its business operations. The local chemists and drugs operatives were cooperating
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Interaction (00) All the users used the dark net for dealing drugs and making transactions
(01) Everything was available on the dark web and transacted through bitcoins Beginners made good money and as it was an illegal means of trade sooner or later, doomsday nearing with the implication of one small mistake. Use of technology to nab the criminals
1. Association (02) The approach was common and the business channel was common too on the Silk Road market The business transactions were only of one type and the chances of getting cheated or crossed were high. Risk was a factor to be considered. Inviting criminals to make mistakes
2. Subsistence (12) United workforce and a common platform to trade drugs One person gets caught and the entire market or team crashes. Highly risky. Continuous supervision and control
3. Territoriality (13) The territories and associations were clear No formal rules in the criminal world. Create opportunities to nab criminals
4. Temporality (34) Common ground for criminals to trade, no frequent changes Money is the main concern. Nothing else did matter as long as the dealings were done covertly. Active Monitoring and
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Exploitation (18) The drug makers or chemists felt exploited by the top management trying to meet deadlines and maintain secrecy Pressure on the chemists and drug dealers to meet the supply and chain demands and maintain high levels of secrecy.
Principles and lessons for preventing Cyber crimes and Money laundering
The principles and lessons for preventing Cyber crimes and Money laundering are-
1. Identify and stop the source of funds for money laundering activities.
2. International cooperation among nations to curb cyber terrorism.
3. Empower the law enforcement agencies to prevent cyber crimes and money laundering.
4. Continuous monitoring and supervision of illegal activities and the use of dark web.
5. Swift action teams and experts in the cyber crime investigation teams would help resolve such cases.
6. Lessons learned from previous similar cases should be documented and used to ensure the right actions to be taken in the future.
7. Creating effective cyber security policies that would ensure the prevention of cyber crimes and money laundering activities.
The Policy suggestions the analysis suggests are-
1. Use of state of the art technology to ensure cyber

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