Interpol shifts its focus to tackling crypto-related crimes and aims to launch a dedicated crypto-crime unit in Singapore.
The International Criminal Police Organization (Interpol), an international organization that facilitates worldwide police cooperation and crime control, is reportedly planning to launch a dedicated crypto-crime unit.
According to the news report shared by the news agency Business Standard, Interpol is setting up a specialized crypto crime unit in Singapore to aid governments in fighting crypto-related crimes.
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Interpol secretary general Jürgen Stock shared the news during a press conference in Delhi before the 90th General Assembly of Interpol starting on October 18.
In his speech, Jürgen Stock highlighted that, in many cases, the lack of regulatory frameworks on cryptocurrencies, like Bitcoin (BTC) and Ether (ETH), poses a number of challenges for law enforcement agencies. The secretary-general noted that the reason for that is that agencies usually don't have the necessary knowledge and equipment to tackle crypto-related crimes.
Huge developments in technology, internet of everything and digitalization – because of cryptocurrency – pose a challenge to law enforcement, because very often, they (agencies) are not properly trained and properly equipped from the beginning.
Jürgen Stock highlighted that cybercrime and cryptocurrency are the main topics of Interpol’s general assembly in India.
At the end of his speech, Stock emphasized that Interpol will dive deeper into solving crimes related to terrorism, cybercrime, and crimes against children to reach significant goals by 2030.
The news comes soon after Interpol issued a “Red Notice” for Terraform Labs co-founder Do Kwon. The “Red Notice” was issued under the charges related to Terra’s collapse.
