- The agency is utilizing the new technology to determine who owns crypto wallets.
- It’s been two years since it was reported that Russian officials were building a system.
According to Tass, the Russian Ministry of Internal Affairs (MVD) has given its employees access to a new digital platform. It is named “Personal account of a law enforcement agency.” The government agency was told by the ministry that it is now utilizing the new technology. To determine who owns cryptocurrency wallets.
On the eve of International Anti-Corruption Day (December 9). The director of the MVD’s Main Department of Economic Security and Anti-Corruption, Police Lieutenant General Andrey Kurnosenko, told Tass that the department had previously implemented and was running the digital project effectively.
Kurnosenko said that the analytical tool enables his colleagues to swiftly receive and analyze gathered information. About particular financial threats to the Russian economy. And also assemble the results of cooperative work within national programmes in the area of cybercrime and other disciplines.
Utilizing Artificial Intelligence
The integrated solution includes a function designed to assist investigators in keeping tabs on cryptocurrency transactions, the senior MVD official said. General said, “There is already a positive experience of using this tool to identify unscrupulous owners of crypto wallets,” but didn’t provide any details.
In an effort to regulate Russia’s crypto sector, the Ministry of Finance approved for assessment a number of suggestions from the country’s law enforcement agencies in April, which led to the introduction of MVD’s new crypto tracking capabilities. Moreover, the freezing of cryptocurrency accounts and the disclosure of cryptocurrency transactions were discussed.
It’s been two years since it was reported that Russian officials were building a system to monitor and analyze cryptocurrency transactions. In August 2020, a prototype system was being put through its paces, and reports said it was using artificial intelligence.
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