Interpol Event to Discuss Bitcoin’s Role in Illicit Asset Trade

Pete Rizzo
Nov 16, 2015 at 21:15 UTC
news

A spokesperson for India’s Central Bureau of Investigation (CBI), its top law enforcement agency, has revealed bitcoin and digital currencies will be an area of focus during an upcoming conference organized by Interpol to be held in India.

Running from 17th to 19th November, the sixth-annual Global Focal Point Conference on Asset Recovery will more broadly focus on fighting corruption and financial crime.

According to statements from Interpol, measures to be discussed will include a new global police alerts system that would help global agencies better trace and recover stolen assets.

However, a new report by The Economic Times indicates that the CBI has said digital currency and its role in facilitating trade on the dark web will be discussed. While not quoted directly, CBI spokesperson Devpreet Singh reportedly said the technology has caused concerns among law enforcement agencies for its growing use in cybercrime.

The conference is organized by Interpol as well as the Stolen Asset Recovery Initiative, a partnership between the World Bank and the United Nations Office on Drugs and Crime established in 2007.

Interpol has emerged as one of the more active law enforcement organizations looking at illicit use cases for digital currencies. To faciliate study the technology, Interpol created its own digital currency and held the first of a planned series of training session on the subject in August.

Most recently, Interpol announced it would work with Europol, the European Union’s top law enforcement agency, to investigate crimes involving digital currency usage.

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