In news

Over 2,000 representatives from 132 nations attended the digital 4th International Convention on Felony Funds and Cryptocurrencies organised by the Interpol, Europol and the Basel Institute on Governance.

Objective

Strengthening knowledge, expertise and best practices for investigations into financial crimes and intelligence on virtual assets and cryptocurrencies

Detail

• “Representatives from regulation enforcement and the judiciary, Monetary Intelligence Models (FIUs), worldwide organisations and the personal sector have met nearly to form worldwide cross-sector options towards the felony use of cryptocurrencies.
• The convention is an initiative of the Working Group on Cryptocurrencies and Cash Laundering established in 2016 by the three organisations, launched with an goal of strengthening data, experience and greatest practices for investigations into monetary crimes and intelligence on digital property and cryptocurrencies.
• The convention underlined the necessity to increase capabilities on methods to probe digital property and regulate digital asset service suppliers to forestall cash laundering.

Agenda

The convention’s agenda included traits and investigations on cryptocurrency associated offences, exploring felony flows and operations at the hours of darkness markets, ransomware and sextortion case research, cash laundering involving digital property, and the switch of drug proceeds utilizing cryptocurrencies.

Source: The Hindu