The police service of the Canadian city of Calgary is introducing a Cryptocurrency Investigations Centre in collaboration with blockchain analytics company Chainalysis to assist battle crypto criminal activity. The center “will enable law enforcement to tackle crime that takes place using blockchain technology,” Chainalysis explained.
Canada’s Cryptocurrency Investigations Centre
The police service of Calgary, the biggest city in the western Canadian province of Alberta and the biggest city location within the 3 Prairie Provinces area, revealed recently that it is developing a “Cryptocurrency Investigations Centre.” The statement describes:
The Calgary Police Service is participating in a unique collaboration with Chainalysis, an international blockchain information platform, to assist battle crypto-crime.
“The creation and implementation of the Western Canada Cryptocurrency Investigations Centre will strengthen our ability to ensure the public safety of citizens, allow for proactive policing, enhance technical investigative skills and provide expert training resources for law enforcement,” the police kept in mind.
According to the statement, Calgarians reported losses amounting to $13.9 million due to cryptocurrency-associated criminal offenses to the police in 2015, and an extra $3.2 million has actually been reported up until now this year.
“Cybercrimes, particularly cryptocurrency scams, can be difficult for law enforcement to fully investigate due to a variety of complex factors, including various international locations and jurisdictions, sophisticated criminal techniques and quickly advancing technology,” the police worried.
Furthermore, the statement information:
Together, with Chainalysis, the Calgary Police Service Cyber Forensics Unit has actually developed the CPS Blockchain Investigation Team (BIT), committed to support cryptocurrency and blockchain-related investigations.
Chainalysis explained the brand-new center as “an innovative regional center that will enable law enforcement to tackle crime that takes place using blockchain technology.”
The blockchain company’s research study shows that there has actually been a substantial rise in the use and adoption of cryptocurrencies and digital properties in Canada given that 2019. In 2022, Canada ranked 22nd on the company’s Global Crypto Adoption Index, which is an enhancement from 26th in 2021 and 24th in 2020.
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