It is important to understand that the cryptocurrency market is relatively new, and most people lack a proper understanding of what it is all about. Even financial regulators in some countries have limited knowledge on the same, and that’s why some of them are so keen on banning cryptocurrencies, while some have begun to offer cryptocurrency education to their forces to fight crypto crimes.
The Indian government is going to provide cryptocurrency education to its top police officers. The knowledge will help in fighting cryptocurrency related illegal activities. Its national police academy has already rolled out a course on cryptocurrencies and how blockchain technology works. The course is set to start in September of this year at the Sardar Vallabhbhai Patel National Police Academy.
Amulya Patnaik, who is the Delhi police commissioner, said that the program was a unique one and that the government was making necessary efforts to educate people on cryptocurrencies. He also added that they were better equipped to fight tech-related crimes.
” We are now equipped with technology to recover data from damaged hard disks, cryptocurrency analysis, malware forensic, and data can be retrieved from 33,000 kinds of mobile models available in the market.” said Amulya Patnaik.
The move will help in combating cryptocurrency crimes, especially with the government announcing that it will put in place stringent measures against crypto trade in the country. With the barriers in place, there will be several crackdowns being carried out, and that’s why the police force has to learn about this technology.
Several police forces in India have reported several cryptocurrency related crimes over the past year. At the beginning of 2019, reports showed that cryptocurrency scammers had gotten away with up to $2,000,000. The most recent case of cryptocurrency crime in India was recorded the previous week where police raided and arrested 78 people in a call center scam that was set up to target mainly US citizens.
Some digital currencies, unlike cash, are traceable, which makes it easy for officers to track them if they are used to fund illegal activities.
India is not the first country to roll out such a program. London launched a similar program last year to help its police force fight cryptocurrency crimes. It is a good sign to see authorities taking the initiative to train on cryptocurrencies so that they can protect citizens. We will have to wait to see how effective these initiatives will go in fighting cryptocurrency crimes.