News

The London City Police To Get Trained To Curb Cryptocurrency Related Crimes

Police officers are to get trained on cryptocurrency, to tackle the new menace of money laundering. The investigation into the recent flow of billions of pounds of dirty money, into Bitcoin and alternative cryptocurrencies, warrants the training. The London Police will be spearheading the course for fraud investigation as the fight against cryptocurrency fraud starts in earnest.

The fight Against Cryptocurrency fraud by the law enforcement forces

The London Police will be spearheading the training for Police officers on cryptocurrency. The massive investment of dirty money into cryptocurrency necessitates the training of police officer on cryptocurrency and its crime.
For police officers to function optimally in the fight against cryptocurrency crimes; there is a need to know the field and probably become experts. The need to fight cryptocurrency frauds brings the need for training to bear on the Police officers and other security agencies.
In the same vein, other authorities are also in the race for their staffs to be competent inadequate knowledge regarding cryptocurrencies. Chartered Financial Analyst qualification exams will henceforth offer a cryptocurrency section as from 2019; this was as announced by the professional body organizing the exam last week.
The Bank of England has given caution on the tendency of damage to image, which can result from the wild rush for the cryptocurrency craze. Even though cryptocurrency is a virtual currency that has seen a lot of investment recently, the unguided and unmonitored aspect of it has led to the influx of questionable money. Investing without proper inquiry means a reputation risk for those delving into it.
According to the letter sent to chief executives of banks, insurers and fund managers, by Sam Woods the Bank of England’s Deputy Governor, it states “Crypto-assets raise concerns related to misconduct and market integrity,…Many appear vulnerable to fraud and manipulation, as well as money-laundering and terrorist financing risks.”
As the London City Police set out to raise the fight against cryptocurrency crime to top gear, they will be joining the innovation adopted in the United States under the administration of Obama to curb similar situation in 2015. The law enforcement agencies of the United States of America in conjunction with two private companies who embarked on the training on electronic currencies and the problems that arise from the use.
This step is necessary for all countries to introduce to their law enforcement agencies, as cryptocurrency becomes more popular and is viewed to be a more secure future of trading and investment.

Related posts
cryptocurrencyDOGEdogecoinDOGEUSDElon MuskNewsTron NewsTRXUSD

As Elon Musk’s SpaceX Literally Sends Dogecoin To The Moon, Justin Sun Craves For Tron to Tag Along

Justin Sun, the CEO of Tron is offering Elon Musk a million-dollar deal, to help launch a satellite for BitTorrent and Tron. The CEO of the leading network has been clamoring for the adoption of the Tron network and its…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTFacebookMark ZuckerbergNewsxbtusd

Facebook’s Mark Zuckerberg Might Have Just Made A Grand Entrance Into The Bitcoin Market

The CEO of Facebook might have just dropped subtle hints on his “Bitcoin holdings.” In a post that has left the cryptocurrency space confused, for the most part, Zuckerberg posted a picture of two of his goats, named Max and…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTNewsxbtusd

Software Giant Palantir Joins the Bitcoin Race, Hints At Gigantic BTC Buy

What do Tesla, Time magazine and WeWork have in common? All companies have, in the last three months, announced either a significant investment in cryptocurrency or a newfound acceptance of it as a means of payment from customers. The most…