Most of the Government agencies globally are still having difficulty accepting cryptocurrency and consider it as the main cause of money laundering. In order to handle this, police should be provided appropriate training to deal with the issues of cryptocurrency. Hence, London Police is taking a big step towards this direction.
In order to solve cryptocurrency issues, London Police to receive essential cryptocurrency training. As per one report by Business Insider, European Criminals are cleaning over $5.5 billion (£4 billion) worth of money using cryptocurrencies. As per Robin Wainwright, European criminals are channeling around 4% of all criminal proceeds via currencies like Bitcoin. The Director of Europol estimates that this figure will rise substantially.
Cryptocurrency Training for London Cops to handle Crypto Crimes
The City of London Police will receive a Cryptocurrency course validated by the Economic Crime Academy. Apart from this, London School of Economics launched a Cryptocurrency course entitled “Cryptocurrency Investment and Disruption.” This course was specially developed for heads of state and Nobel laureates and it costs around £1800.
A spokesperson stated about the initiative to educate the London Police on Cryptocurrency and it is “first of its kind.” He further added that course is specially designed by keeping in mind the officer's interest. According to them, they aren’t properly prepared to deal with new digital currency technology.
The spokesperson stated, “It is designed to provide delegates with the skills and knowledge required to recognize and manage cryptocurrencies in an investigation. On successful completion of this course, participants will understand how to detect, seize and investigate the use of cryptocurrencies in an investigative context. It will be the first of its kind and has been developed in response to feedback from police officers nationally who felt there wasn’t enough training in the area,”
Cryptocurrency crime is rising globally
This new initiative by the London Police is great and each and every country should implement this. Europe is not only the first country which is under the radar, crypto crimes are increasing globally. Previously, 12 members of a drug gang were arrested by the Brazilian Federal Police for laundering millions of dollars in bitcoin.
As a cyber-security company, CipherTrace Cryptocurrency crimes are increased 3 times as compared to 2017. Also, they stated that crypto-related crimes are one of the fastest-growing crime this year.
Cryptocurrency is being accepted by a lot of people every day. Hence, removing criminal activities related to bitcoin and all other cryptocurrencies by police is required. By this, more users will get attracted towards cryptocurrency.