Interpol Forms Specialised Unit to Curb Down Crypto Crimes

Interpol has created a specialized group to assist countries to fight and act against crypto crimes.
Interpol Secretary-General Jürgen Stock stated that crypto assets like Bitcoin and Ethereum pose a threat to law enforcement agencies.

Interpol, the world’s largest police organization has created a specialized group to assist countries to fight and act against crypto crimes. The organization with 194 countries in membership formed a squad in Singapore dedicated to helping countries fight against crypto crimes.

Crypto crimes have become the grist for the gossip mill in these times. With every onset sees money moving around through cryptocurrency without the consent of law enforcement agencies. A lot of things remain hidden from the eyes of the world with the new form of payment but those times are about to be brought to an end. A new Interpol special crime unit designed to fight down crypto crimes is ready to battle down such crimes.

Speaking at a press conference during the organization’s 90th General Assembly in Delhi, Interpol Secretary-General Jürgen Stock stated that crypto assets like Bitcoin and Ethereum pose a threat to law enforcement agencies in the absence of a legal framework.

“Criminals are using cryptocurrencies to move money around the world, all the while keeping it hidden from enforcement agencies,

A news report from the Indian news agency Business Standard reported earlier this week said that The world’s largest body with 195 country members has set up a specialized team in Singapore to help countries combat crimes involved in virtual assets.

Notably, Stock shared in a tweet that cybercrime will be a key agenda at Interpol’s general assembly in India.

#Crypto currencies are emerging as major threat across the globe: Jurgen Stock, Interpol chief

The Interpol global complex for innovation in Singapore is working on a mechanism to deal with challenges emerging from #Cryptocurency

— Sachin Singh (@sachinsingh1010) October 18, 2022

Echoing the words of Jürgen Stock, Praveen Sinha, the special director of India’s Central Bureau of Investigations, stated that it was getting much harder to track down crypto crime. He continued t state Interpol’s role in establishing and developing far much 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 shortly after the police organization issued a red notice on the notorious Terra boss Do Kwon who still misses the eyes of the world. South Korean prosecutors situated in Seoul asked for Interpol’s backing to issue a red notice on Do Kwon across the 195 countries where Interpol has its roots.