Interpol Team Based in Singapore to Help Countries Combat Crypto Crime – The Indian news quoted Interpol Secretary-General Jürgen Stock as saying that cryptocurrencies such as bitcoin pose difficulties to law enforcement organizations, particularly in the lack of a legal framework. He landed in New Delhi for the 90th General Assembly of Interpol, which begins on Tuesday and continues through October 21.
During a Monday press conference, the head of the International Criminal Police Organization (ICPO) stated that cryptocurrencies are becoming a global concern. Stock also disclosed that Interpol has established a team in Singapore, the location of its Global Complex for Innovation, to assist countries in their efforts to prevent crimes involving crypto assets.
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Cryptocurrency and cybercrime will dominate the agenda as the 195 members of the organization strive to enhance collaboration in the field. “Huge developments in technology, internet of everything and digitalization – because of cryptocurrency – pose a challenge,” Stock elaborated.
The German was quoted by the Spanish news outlet EFE as saying that law enforcement authorities are frequently poorly trained and equipped to begin with. In addition, he stressed that a substantial quantity of illicitly acquired assets are being laundered through cryptocurrencies.
Special director of India’s Central Bureau of Investigations Praveen Sinha stated that cybercrime is becoming increasingly tough to decipher. The Indian official remarked, “The only answer is international cooperation, coordination, trust, and real-time information sharing.”
Both officials emphasized the significance of Interpol’s role in enhancing worldwide police cooperation. Jürgen Stock elaborated that in order to finish the organization’s 2030 vision, its members will investigate the future of policing in a society that is becoming increasingly digitalized.
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The declarations come after the European Union Agency for Law Enforcement Cooperation (Europol) admitted last month that the expanding use of cryptocurrencies across borders and industries is accompanied by a rise in criminal activity. Europe’s law enforcement agency has also expressed an interest in using blockchain technology to probe organized crime and money laundering.
