The new program is intended to educate officers on how to investigate crimes involving cryptocurrency.
On Sunday, a spokesperson for the City of London Police confirmed that a course in cryptocurrency will be implemented into the department’s Economic Crime Academy.
According to reports from The Telegraph (paywall) and local outlet City A.M., the training course was developed in response to officer unease about their lack of knowledge regarding how to best conduct investigations surrounding the malicious use of cryptocurrency. The stakes for crypto crime enforcement are high: Earlier this year, the head of Europol, Rob Wainwright, told the BBC that criminals in Europe are using cryptocurrency to launder billions.
The program is said to be a “first of its kind.” The spokesperson for the City of London Police stated:
“On successful completion of this course, participants will understand how to detect, seize and investigate the use of cryptocurrencies in an investigative context.”
A pilot program of this new course has already been rolled out, and another is scheduled to take place in August. It is unclear whether the training will be mandatory, or to whom the course will be available.
The City of London Police force is also host to several financial crime units, and acts as the designated national lead force for fraud. In this role, the police department is responsible for sharing best practices for tackling fraud cases with the other UK-based authorities.
Additionally, the City of London Corporation has also joined the fight against cryptocurrency crime by stating its intentions to build a “cyber court.” The new building will include 18 courtrooms and will reportedly be specially designed to handle cases involving cybercrime, fraud, and economic crime.
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