Interpol forms a unit to combat cryptocurrency crimes

Interpol intends to strengthen the fight against crimes connected with digital assets and to help in this direction other countries. This was stated by the secretary-general of the organisation, Jürgen Stock, according to Business Standard.

At a press conference on the eve of Interpol’s general assembly in New Delhi, the official noted that the lack of a legal framework for cryptocurrencies creates serious problems for law enforcement.

«[…] agencies are often not trained and not properly equipped», Stock said.

According to him, Interpol has formed a division headquartered in Singapore. The aim of the new structure is to provide law-enforcement authorities in other countries with the necessary assistance in the fight against cryptocurrency crime.

India’s Central Bureau of Investigation director, Pravin Sinha, noted the importance of coordination between law-enforcement authorities across borders.

«The only answer is international cooperation, trust, and real-time information sharing», he stressed.

In 2020, Interpol disrupted the activities of Nigerian cybercriminals, that attacked at least 500,000 government and private-sector entities in more than 150 countries.

In September 2022, it emerged that the organization issued a «red notice» for the arrest of Terraform Labs CEO Do Kwon. This occurred after the corresponding request by South Korean authorities, according to the media.

In February, the FBI formed a unit focused on analysing on-chain activity in decentralized networks.

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