Russian Authorities now have access to a digital tool that can link cryptocurrency wallets to their owners. It also allows officers to easily monitor transactions of crypto assets, according to the Russian Interior Ministry.
Russian Police Show Off New Cryptocurrency Tracking Tool As Part Of Anti-Corruption Day
Employees of the Ministry of Internal Affairs (MVD) of The Russian Federation now have access to a special platform called “Personal Account of a Law Enforcement Agency,” Tass reported. This new system identifies holders of cryptocurrency wallets and is already in use.
“This digital project has already been implemented and is working successfully,” the head of MVD Main Department For Economic Security And Anti-Corruption, Police Lieutenant General Andrey Kurnosenko, told Tass on the eve of International Anti-Corruption Day, which is celebrated on December 12 to raise awareness about corruption.
Kurnosenko noted that the integrated product includes a module designed to assist investigators in following cryptocurrency transactions. “There is already positive experience of using this tool to identify unscrupulous owners of crypto wallets,” he said.
The announcement of MVD’s new crypto tracking capabilities follows the Finance Ministry’s review of a series of suggestions from law enforcement agencies in the country aimed at regulation of the crypto space. Reporting of transaction data and seizure of digital assets were two of the topics addressed.
It was reported two years ago that Russian authorities were creating a platform for tracking and analysing transactions involving cryptocurrency. At the time, in August 2020, a prototype of the system, allegedly using artificial intelligence technology, was being tested.
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