Interpol reportedly creates dedicated unit to fight crypto crimes
The International Criminal Police Organization is reportedly planning to strengthen its crackdown on cryptocurrency-related crimes by forming a dedicated division.
Interpol, the world’s largest global police organization, has set up a special team in Singapore to help governments fight crimes involving virtual assets, the Indian news agency Business Standard reported on Oct. 17.
Interpol made the announcement at a press conference ahead of its 90th general assembly in Delhi, which is to be attended by high-profile police officials from its 195 members from Oct. 18 until Oct. 21.
According to Interpol secretary general Jürgen Stock, the absence of a legal framework for cryptocurrencies like Bitcoin (BTC) and Ether (ETH) poses major challenges to law enforcement agencies. “Because very often, agencies are not properly trained and properly equipped” to address cryptocurrency crimes in the beginning, Stock reportedly noted.
Stock also pointed out that cryptocurrency and cybercrime will be the main focus of the agenda at Interpol’s general assembly in India.
#Crypto currencies are emerging as major threat across the globe: Jurgen Stock, Interpol chiefThe Interpol global complex for innovation in Singapore is working on a mechanism to deal with challenges emerging from #Cryptocurency
Praveen Sinha, the special director of India’s Central Bureau of Investigations, reiterated that it has been increasingly difficult to monitor cybercrime. He also highlighted Interpol’s role in establishing and developing better police cooperation at the global level.
“The only answer is international cooperation, coordination, trust, and real-time sharing of information,” Sinha said.
The news comes soon after Interpol issued a “red notice” to global law
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