Europol and Interpol Partner to Fight Digital Currency ‘Abuse’

Stan Higgins
Oct 5, 2015 at 18:50 UTC
news

Europol and Interpol have agreed to work together on issues related to the criminal use of digital currencies.

The partnership became official during this year’s Interpol – Europol Cybercrime Conference, an annual gathering of international law enforcement officials, held in The Hague. The event, Europol said, drew more than 350 attendees.

According to a statement from Europol, the partnership will see coordination “against the abuse of virtual currencies for criminal transactions and money laundering”.

The statement said:

“[The partnership] will include actions around policy, stimulating operation cooperation and the development and delivery of training to fight the criminal use of virtual currencies, enabling detection, seizure and forfeiture of criminal assets.”

Other organizations have been invited to join, according to the statement.

The announced partnership comes on the heels of a Europol report that asserted bitcoin could become a common currency for criminals in the European Union. In the past, the agency has pointed to digital currencies as a driver of the “crime-as-a-service” business model.

Interpol has long worked on digital currency related initiatives, including the development of its own cryptocurrency and the launch of a war game series geared toward law enforcement.

Image via Shutterstock

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