London Police To Get Training To Handle Crypto Crimes

londoncop july24

Police officers in London will be given training in bitcoin and other cryptocurrencies as part of the efforts to tighten the battle against money laundering and other related crimes.

The City of London Police reportedly is piloting a course, which will start as soon as this autumn, for fraud investigators. The course is expected to help the officers deal with suspicious Bitcoin transactions and potential money laundering concerns.

The move follows a recent announcement that a state-of-the-art cyber court would be opened in London's financial district. The location is expected to be an educational center for police officials.

Police force around the world is struggling to track the huge amount of dirty money vanishing through Bitcoin and other cryptocurrencies.

In March, International Monetary Fund Chief Christine Lagarde had urged authorities around the world to develop regulatory frameworks to meet the new vulnerabilities created by the rapid growth of crypto-assets. Lagarde called to "fight fire with fire" while dealing with digital currencies, noting that failure to control it could result in a potentially major new vehicle for money laundering and the financing of terrorism.

For comments and feedback contact: editorial@rttnews.com

Follow RTT