The 4th Global Conference on Criminal Finances and Cryptocurrencies has recently occurred in a virtual platform. Interpol, Europol, and the Basel Institute on Governance took the lead in organizing this influential conference. This event is an annual initiative that brings together experts from around the world to tackle the challenges posed by financial crimes and the misuse of cryptocurrencies.
Conference Origins and Aims
The Working Group on Cryptocurrencies and Money Laundering, established in 2016 by Interpol, Europol, and the Basel Institute on Governance, initiated this annual conference. The primary objective of the event is to build knowledge, expertise, and best practices for investigations into financial crimes, specifically focusing on virtual assets and cryptocurrencies.
Global Participation
The event saw remarkable participation with over 2,000 representatives from 132 countries worldwide. People from various sectors, such as law enforcement agencies, Financial Intelligence Units (FIUs), international organizations, and the private sector, joined the proceedings.
Agenda of Discussion
The discussions pivoted around shaping international cross-sector solutions to combat the criminal usage of cryptocurrencies. They delved into the intricacies of criminal flows in the dark markets, cases of ransomware and sextortion, money laundering involving virtual assets, and the transfer of drug proceeds through cryptocurrencies. The conference also emphasized the need for increasing the exchange of tactical information and best practices across countries and jurisdictions.
The Significance of the Conference
The conference highlighted the importance of a multi-agency and multidisciplinary approach to tackling criminal finances and cryptocurrency misuse. By merging the expertise and financial crime data held by the private sector with the investigative capabilities of law enforcement, collective capabilities can be significantly improved.
About Interpol
INTERPOL, or the International Criminal Police Organization, is an intergovernmental body that aids in coordinating the police force across its 194 member countries. Each member country hosts an INTERPOL National Central Bureau (NCB), connecting their national law enforcement with other nations and the General Secretariat. The Central Bureau of Investigation (CBI) serves as India’s National Central Bureau, with its headquarters situated in Lyon, France.
About Europol
Europol is the European Union’s law enforcement agency, with its primary mission being to ensure a safer Europe for all EU citizens. Based in The Hague, the Netherlands, it aids the 27 EU Member States in their fight against terrorism, cybercrime, and other forms of serious and organized crime.
About The Basel Institute on Governance
The not-for-profit Swiss foundation, the Basel Institute on Governance, was established in 2003. It is dedicated to preventing and combating corruption around the world by working with public and private partners. The Basel Institute is also an Associated Institute of the University of Basel.
