Crypto Major Threat: Interpol's Stock, Post-5G new SOPs Needed
Cryptocurrencies are emerging as a major threat across the globe, secretary general of Interpol.
Asia delegate Praveen Sinha said law enforcement agencies in India need new standard operating procedures (SOPs) after the launch of 5G technology.
On Tuesday, Prime Minister Narendra Modi will address the 90th Interpol General Assembly which is likely to see participation of delegates.
On Tuesday, Prime Minister Narendra Modi will address the 90th Interpol General Assembly which is likely to see participation of delegates ministers from 195 member countries.
The Interpol chief said authorities across the globe have witnessed a sharp rise of cryptocurrencies, especially Bitcoin, which pose a major threat.
"The Interpol Global Complex for Innovation in Singapore is working on a mechanism to overcome these challenges," said Stock.
It has been observed that criminal entities use cryptocurrencies to launder the illegal proceeds of crime. Organised crime networks are making billions of dollars.
The fact that 99% of stolen assets remain in criminal hands is of greater concern.
RCN is not an international arrest warrant, and Interpol cannot force any member country to arrest an individual who is the subject of an RCN.