UAE joins global effort to combat crypto crime

The United Arab Emirates (UAE) has intensified its efforts to combat global crypto crime after it was present at the International Cryptocurrency Security Action Week workshop held in ￰0￱ event was organized by the Secure Communities Forum in collaboration with ￰1￱ summit which took place in Singapore brought together senior representatives from global law enforcement technology leaders

and experts in the private sector to strengthen digital ￰2￱ also discussed the need to address the growing rate of crimes in the crypto ￰3￱ of the participants at the event included the United Nations Office on Drugs and Crime (UNODC) the United States Internal Revenue Service the Royal Malaysian Police the Data Security Council of India

INTERPOL Rabdan Academy and leading technology and data analytics companies ￰4￱ set to up efforts against crypto crime During the event the summit focused on specific areas

with extensive discussions and practical training sessions also carried ￰5￱ the subject of investigating cryptocurrency crimes they discussed the use of several advanced technological methods to track fraud and on-chain data to follow the ￰6￱ also discussed how to use these technologies to combat the rising menace of money laundering being carried out using digital ￰7￱ addition the summit participants also discussed the rise in dark web ￰8￱ talked about how to monitor those activities and ensure that the criminals operating the websites and those carrying out illegal activities on the platforms are brought to ￰9￱ also discussed cooperation between public and private entities across specific ￰10￱ example

they discussed the need for law enforcement agencies to connect with crypto exchanges for ￰11￱ the summit participants were also taught about the need to involve on-chain analytics firms and how these firms can speed up investigations into criminal activities making sure criminals are caught without wasting too many ￰12￱ participants discuss the need for appropriate regulations Outside these elements the participants also discussed regulatory developments and the need to deploy the right ￰13￱ would help promote the sector and not stifle ￰14￱ of these countries are looking to be pro-crypto

following the example of the United States through its President Donald Trump who has been close to the crypto industry since he assumed office for his second term earlier this ￰15￱ also signed a crypto treasury into place something that most countries are now ￰16￱ development is coming off the back of a verdict by a Dubai court to jail an African man for 10 years after paying a fine of about $27,000 for purchasing narcotics with digital assets on the dark ￰17￱ Dubai Court of Appeal upheld the ruling handed down by the Court of First Instance including the seizure of the drugs and ￰18￱ claimed that the man bought different narcotics from the unidentified dealer using digital assets before being caught in possession of about 80 grams of marijuana and other banned ￰19￱ reported that they received an actionable tip that the man had been using and storing drugs in the Al Khawaneej area of Dubai since ￰20￱ securing a warrant from prosecutors

the police surveillance team tracked and arrested ￰21￱ present at his hearing claimed he was under the influence of narcotics at the time of his arrest though he did not smell of ￰22￱ precautionary search uncovered several drugs that were sent to the lab for forensic ￰23￱ crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites