International police organization Interpol has set up a dedicated team in Singapore to help countries tackle cryptocurrency-related crimes.
At a press conference in New Delhi, the police organization made the announcement ahead of its 90th General Assembly, which will be attended by prominent police officers among its 195 members.
The 90th General Assembly, which started today, lasts until October 21st.
Jürgen Stock, Secretary General of Interpol, explained the lack of a regulatory framework for cryptocurrencies such as Bitcoin BTC/USD and ether ETH/USD posed significant difficulties for law enforcement agencies.
“Because very often the authorities are not properly trained and not properly equipped” to tackle cryptocurrency crimes in the beginning, Stock said reported according to business standards.
Cryptos, cyber crime take center stage
Stock further said that the key topics on the agenda of the gathering will be cryptocurrencies and cybercrime.
India’s Central Bureau of Investigations Special Director, Praveen Sinha, reiterated that cybercrime has become more difficult to keep track of.
He also emphasized Interpol’s contribution to building and promoting improved international police cooperation.
International cooperation, coordination, trust and real-time information sharing were the only solutions, according to Sinha.
Interpol sent a “red alert” to international law enforcement agencies in September over the detention of Do Kwon, co-founder of Terraform Labs.
Before the collapse of the Terra ecosystem in May 2022 South Korean prosecutors in Seoul urged Interpol to send Do Kwon’s “red alert” to the organization’s member states.
Since at least 2015, Interpol has strived to expand its knowledge of cryptocurrency transactions and identify criminal activity on the dark web.
Interpol partnered with Trend Micro in 2020 to reduce cryptojacking that was affecting routers across Southeast Asia.
It also partnered with S2W Lab, a South…
