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Interpol is making a specialized team to fight crypto criminals

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Join Our Telegram channel to stay up to date on breaking news coverage The cryptocurrency sector is constantly seeing greater amounts of adoption despite the dropping prices. However, with more people and money going into crypto, the industry has become one of the primary targets for online criminals. Very few crypto users understand the nuances of crypto security , and they often make mistakes and end up becoming victims of fraud and scams. On top of that, there are also major hacks that target exchanges and other crypto-related businesses. Now, Interpol itself decided to get involved with the fight against bad actors by creating a specialized unit that will focus on this specific type of crime. Law enforcement agencies cannot handle crypto crimes alone According to a recent report published by an Indian news agency, the International Criminal Police Organization has set up a special team headquartered in Singapore, which will focus on helping governments fight crimes involv...

Interpol is Planning a Dedicated Crypto Crimes Unit in Singapore

The International Criminal Police Organization, or Interpol, is gearing up to strengthen its crypto crime-fighting skills. According to reports, Interpol has set up a special unit in Singapore to aid governments with crimes involving virtual assets. The announcement was made ahead of Interpol’s 90th General Assembly in New Delhi, India. The event will be held from October 18th, till October 21st. Moreover, high-ranking police officials from 195 member states of Interpol will be in attendance. Jürgen Stock, the secretary general (SG) of Interpol, claimed that the absence of a regulatory framework for crypto assets like Bitcoin (BTC) and Ethereum (ETH) presents significant difficulties for law enforcement organizations. Stock further added that agencies are often not equipped to deal with crimes related to crypto. Stock stated, “Huge developments in technology, internet of everything and digitalization – because of cryptocurrency – pose a...