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Indian Police will attain specialized training to deal with crypto scams

indian police

Indian Police will attain specialized training to deal with crypto scams

Government of India’s Ministry of Home Affairs is planning to deliver an all-around police training service. Sources are suggesting that the new training service is explicitly going to be paid service. Home Affairs is trying to create definitive expertise of the domain. And this will address the crimes concerning cryptocurrency. Indian government’s new filing suggests that further police training will deal with cybercrimes related to cryptocurrency.

The new training course, namely, Investigation of Cases Involving Cryptocurrencies, will last for two entire days. By the looks of it, the program will provide an insight into the vast array of the components concerning education. It would also make the policeman of the country understand the entirety of blockchain technology. In addition to this, the training course also includes the legal traditions of cryptocurrency in the country. Furthermore, it would also interpret a majority of crimes which originates back to cryptocurrency.

The attributes of ICICC

According to the sources, the program is not mandatory; nevertheless, the government will nominate several officers for attending the conference. It is also evident that significant other participants are going to be drawn out from a list of the officers. By the looks of it, the definitive list of officers must show or have a desire to fight cybercrime.

Among all the countries across the globe, India has become a center for the ongoing controversy concerning cryptocurrency’s stance in economics. The central banking institution of India, Reserve Bank accurately put an order, “a de facto” and put cryptocurrency in prohibition. The Reserve Bank also enlists ban on the banking transactions as well as relationship towards cryptocurrency companies. The regulatory effort from India’s Reverse Bank is going to a process of negotiation in the walls of the Supreme Court.

How do Indian regulators view cryptocurrency?

The distinctive governmental entities of the country have come up with a decision to sign and draft a bill. According to the source, the bill is called “Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019.” The governmental entities such as Direct Taxes’ Central Board, Economic Affairs Department, Authority of Fund Protection, and lastly Investor Education. Sources aware of the bill states that the bill would issue money laundering, tax evasion, innate fraud concerning the cryptocurrencies.

In the South Asian country, India, the crimes revolving cryptocurrency has become an urgent issue. And the governmental bodies in India is trying its best to put an end to the atrocities that involve cryptocurrency. Back in June 2019, the Indian Police successfully took the former BitCoinnect fraudster into their custody. Judging by the fraudulent activities, the person is accountable to be working alongside Liberty Coin, a complete fraud enterprise.

What happened with Liberty coin?

The Initial Public Offering of Liberty Coin told the investors that they would get 5000 percent return if they invest. However, the organization didn’t deliver the promise it made to the investors. Some of the investors also said that they are going through with losses in terms of tens of thousands of USD.

The educational course would help the police officers to put the fraudulent reports to Police’s Inspector General.

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