Interpol Creates its Own Cryptocurrency to Fight Virtual Currency Crime
Singapore-based Interpol Global Complex for Innovation (IGCI) is developing its own cryptocurrency. The purpose of this project is to help personnel gain a first-hand understanding of what cryptocurrency is and how it is being used for cyber crime. The IGCI houses the international police’s first digital crime centre and cybercrime research and development capabilities. Dr. Madan Mohan Oberoi announced this project, among others, at the “Interpol World” conference at he Sands Expo and Convention center. Oberoi informed attendees that IGCI employs approximately 30 people, including officers....
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Interpol's cybercrime research facility, the Global Complex for Innovation (IGCI), has created its own digital currency in a bid to combat cryptocurrency-fuelled crime. The IGCI team, which includes members from Singapore's police force, will use its in-house virtual currency to study scenarios of cryptocurrency use and misuse in a specially designed simulation training game. Madan Mohan Oberoi, IGCI director of cyber innovation and outreach, confirmed to a local news outlet that his team has made progress in several projects already. Last month two Interpol researchers, Christian Karam....
A special team established by Interpol in Singapore will assist governments around the world in the fight against crimes involving virtual assets, the international police body announced ahead of its general assembly in India. Cryptocurrency and cybercrime will be the main focus of the forum. Interpol Sets Up Unit to Tackle Crypto-Related Crimes, Top Executive Unveils Cryptocurrencies like bitcoin pose challenges to law enforcement agencies, especially in the absence of a legal framework, Interpol Secretary-General Jürgen Stock was quoted by the Indian press as stating. He arrived in New....
Europol and Interpol have agreed to work together on issues related to the criminal use of digital currencies. The partnership became official during this year's Interpol - Europol Cybercrime Conference, an annual gathering of international law enforcement officials, held in The Hague. The event, Europol said, drew more than 350 attendees. According to a statement from Europol, the partnership will see coordination "against the abuse of virtual currencies for criminal transactions and money laundering". The statement said: "[The partnership] will include actions around policy, stimulating....
In a world where we are all going digital more and more every day, for shopping, entertainment, and now finance with Bitcoin, the law is looking to combat new digital criminals every day. Just like with the Internet over twenty years ago, criminals usually get the jump on the law through new, innovative technologies before they go mainstream. Sometimes, it can take a decade for the authorities to catch up. Now, with the latest technologies at their fingertips, the long arm of the law is looking to cut down that learning curve, starting in Singapore. Interpol Global Complex for Innovation.....
People go on using bitcoin to buy merchandise from the dark web markets, while criminals seek ransom in bitcoin for one reason. They feel protected when they use bitcoin, because of its decentralized nature and the anonymity (pseudonymity) associated with the digital currency. Meanwhile, on the other side of the world the security agencies are preparing themselves to tackle crimes related to bitcoin and other digital currencies. For those who are not aware of it yet, Interpol has created its own version of digital currency and they have been using it to train police forces belonging to....