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Indian Police To get Special Training To Spot Cryptocurrency-Related Crimes.

In line with a recent official ‘government filing‘, the Indian Ministry of Home Affairs is planing to offer an all-expenses paid police training session to form “domain expertise” in cryptocurrency-related crime.

The 2-day course, named “Investigation of Cases Involving CryptoCurrencies,” will cover a large range of educational elements, as well as introduction to ‘blockchain‘ technology, a discussion of standing legal traditions, and interpretations of major cryptocurrency associated crimes.

The program isn’t mandatory, however officers will be appointed to attend the conference. Alternative participants will be drawn from a compiled list of officers who had expressed an interest in “cybercrime and IT.”

India has become a hub for ‘cryptocurrency‘ controversies amid planned government bans. The central bank of India [RBI] also decreed a prohibition on banking relationships for crypto firms. This restrictive effort is presently facing arbitration within the Supreme Court.

Other government entities along with the Department of Economic Affairs, Central Board of Direct Taxes, as well as the Investors Education and Protection Fund Authority signed on to a ‘draft bill‘ titled “Banning of Crypto-currencies and Regulation of Official Digital Currencies Bill 2019,” for perceived problems associated with Taxes, laundering, and fraud inherent to cryptocurrencies.

Indeed, cryptocurrency crime has been an issue within the country. Earlier in June, Indian police arrested the former ‘BitConnect‘ fraudster in link to a illicit enterprise referred to as Liberty Coin that ensured several investors over 5,000% of returns but didn’t deliver. Some victims that came forward claimed losses of several of thousands of dollars.

The educational course will be available for the police officials who report back to the Inspector General of Police. Senior officials for the Central Bureau of Investigation, the Intelligence Bureau, the Narcotics Bureau, along with several other chief govt. figures received a copy of the training initiative document.

The investigatory session is scheduled for the 1st week of Sep. at the National Police Academy situated at Hyderabad.

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