The instances of money laundering using cryptocurrencies are increasing day by day. Due to this issue, the authorities are now providing cryptocurrency training to the London police. This move is a 1stof its kind. With the police becoming more and more aware of cryptocurrencies and the criminal activities which can be conducted using these cryptocurrencies, such activities can be eliminated entirely as well.
In the recent times, the instances of money laundering activities with the help of cryptocurrencies are increasing. This is one of the main reasons why cryptocurrencies not going entirely mainstream as well.
Training to better tackle crimes:
The pilot program is due to begin in August. Moreover, the police department thinks that while it might be starting just in London but eventually, it will be imparted to police officers all over the country. By this autumn, it will be spread out to the rest of the country as well. As a result, most of the police officers will be aware of how cryptocurrencies work and how criminal activities take place using cryptocurrencies.
A lot will also be dependent on the feedback which the officers are able to get from the people who are trained in the program. Only when they are able to get positive feedback, it will be rolled out in its current form. Otherwise, there will be some or the other modifications which will be needed as well.
The rise in the crimes involving cryptocurrencies
Recently, A UK Based Cryptocurrency Platform, Revolut reported that there might have been money laundering activities on its platform. This is due to criminals become more and more aware of cryptocurrencies, there is a rise in crime pertaining to cryptocurrencies. This is one of the main reasons why authorities are thinking to train the police officers in order to tackle cryptocurrency crimes. Only when these cryptocurrency crimes are tackled, it will become easier for the authorities to avoid money laundering as well as fraud’s which are related to cryptocurrencies.
Also, with the increasing awareness of cryptocurrencies, it will become much easier for the authorities to monitor the activities across the cryptocurrency exchanges. Once the activities are monitored across the cryptocurrency exchanges, it will become easier for the authorities to completely eliminate money laundering as well as other such activities. This is why such kind of pilot program, as well as training programs, are pretty important.
Join the newsletter to receive the latest updates in your inbox.