ApeWatcher News
  • Home
  • Advertise
  • Headlines
  • Crypto
    • News
    • Bitcoin
    • Ethereum
    • Altcoin
    • View All
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos
  • Listing Platform
  • BSC
  • CRO
  • ETH
  • BRC
  • Listing Platform
  • BSC
  • CRO
  • ETH
  • BRC
What's Hot

Coinbase Says US Banking Crisis Reinforcing Crypto Assets to the Upside, Catching Attention of Institutions

March 22, 2023

Web3 Community Management Platform TYB Joins Shopify App Store

March 22, 2023

Vladimir Putin Says Russia Wrote Off African Countries’ Debts Totaling Over $20 Billion in 2022

March 22, 2023
Twitter Telegram
  • Listing Platform
  • Home
  • BSC
  • CRO
  • ETH
  • BRC
Advertise
Twitter Telegram
ApeWatcher News
  • Headlines
  • Crypto
    1. News
    2. Bitcoin
    3. Ethereum
    4. Altcoin
    5. View All

    Coinbase Says US Banking Crisis Reinforcing Crypto Assets to the Upside, Catching Attention of Institutions

    March 22, 2023

    Web3 Community Management Platform TYB Joins Shopify App Store

    March 22, 2023

    Vladimir Putin Says Russia Wrote Off African Countries’ Debts Totaling Over $20 Billion in 2022

    March 22, 2023

    Traditional banks rely on ‘tiny buffer’: Paris Blockchain Week 2023

    March 22, 2023

    Traditional banks rely on ‘tiny buffer’: Paris Blockchain Week 2023

    March 22, 2023

    Tim Draper sings a Bitcoin song dedicated to SVB and world governments: PBW 2023

    March 22, 2023

    Cathie Wood’s ARK sells Coinbase stock for the first time in 2023

    March 22, 2023

    The impact of the Credit Suisse bank crisis on the crypto market

    March 22, 2023

    BitMEX Outlines Three Scenarios for Crypto This Year, Says Market Recovery a Likely Outcome

    March 22, 2023

    Arbitrum airdrop hype helps zkSync addresses jump over 5X in a week

    March 20, 2023

    Synthetix nets $20M from Web3 quant trading firm

    March 20, 2023

    These 5 cryptocurrencies may continue to surprise to the upside

    March 19, 2023

    Why is Cardano price up today?

    March 22, 2023

    Coinbase Adds Highly Anticipated Ethereum (ETH) Scaling Solution Token to Listing Roadmap

    March 22, 2023

    ‘Crypto FUD’ — Industry outraged as White House report slams crypto

    March 22, 2023

    Speculators flock to Arbitrum IOU tokens ahead of this week’s ARB airdrop

    March 21, 2023

    Coinbase Says US Banking Crisis Reinforcing Crypto Assets to the Upside, Catching Attention of Institutions

    March 22, 2023

    Web3 Community Management Platform TYB Joins Shopify App Store

    March 22, 2023

    Vladimir Putin Says Russia Wrote Off African Countries’ Debts Totaling Over $20 Billion in 2022

    March 22, 2023

    PlayMining offers companies new advertising initiative via in-game NFTs!

    March 22, 2023
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos

    Hottest ZK Crypto Altcoins (What Whales are Buying for Bull Run Gains)

    March 21, 2023

    Surprise XRP PUMP! (CBDCs BANNED Forever)

    March 21, 2023

    Coinbase 🤝 SBF?! #crypto #shiba #shorts #youtubeshorts

    March 21, 2023

    The Next 50x Altcoin – Ethereum’s SECRET Weapon!

    March 21, 2023

    Bitcoin price is going to $1,000,000! ⚡ Jack Mallers explains why

    March 20, 2023
  • jeet-detector-botJDB(JDB)
    $0.00-0.61% 24H
    JDB
    24H : -0.61%
    Volume : $0.00
    Marketcap : $0.00
  • bitcoinBitcoin(BTC)
    $0.002.42% 24H
    BITCOIN
    24H : 2.42%
    Volume : $0.00
    Marketcap : $0.00
  • ethereumEthereum(ETH)
    $0.000.190% 24H
    ETHEREUM
    24H : 0.190%
    Volume : $0.00
    Marketcap : $0.00
  • usdex-stablecoinUSDEX(USDEX)
    $0.00-0.47% 24H
    USDEX
    24H : -0.47%
    Volume : $0.00
    Marketcap : $0.00
  • tetherTether(USDT)
    $0.00-0.29% 24H
    TETHER
    24H : -0.29%
    Volume : $0.00
    Marketcap : $0.00
  • binancecoinBNB(BNB)
    $0.00-1.88% 24H
    BNB
    24H : -1.88%
    Volume : $0.00
    Marketcap : $0.00
  • usd-coinUSD Coin(USDC)
    $0.00-0.01% 24H
    USD COIN
    24H : -0.01%
    Volume : $0.00
    Marketcap : $0.00
  • rippleXRP(XRP)
    $0.005.25% 24H
    XRP
    24H : 5.25%
    Volume : $0.00
    Marketcap : $0.00
  • cardanoCardano(ADA)
    $0.008.97% 24H
    CARDANO
    24H : 8.97%
    Volume : $0.00
    Marketcap : $0.00
  • staked-etherLido Staked Ether(STETH)
    $0.000.080% 24H
    LIDO STAKED ETHER
    24H : 0.080%
    Volume : $0.00
    Marketcap : $0.00
  • jeet-detector-botJDB(JDB)
    $0.00-0.61% 24H
    JDB
    24H : -0.61%
    Volume : $0.00
    Marketcap : $0.00
  • bitcoinBitcoin(BTC)
    $0.002.42% 24H
    BITCOIN
    24H : 2.42%
    Volume : $0.00
    Marketcap : $0.00
  • ethereumEthereum(ETH)
    $0.000.190% 24H
    ETHEREUM
    24H : 0.190%
    Volume : $0.00
    Marketcap : $0.00
  • usdex-stablecoinUSDEX(USDEX)
    $0.00-0.47% 24H
    USDEX
    24H : -0.47%
    Volume : $0.00
    Marketcap : $0.00
  • tetherTether(USDT)
    $0.00-0.29% 24H
    TETHER
    24H : -0.29%
    Volume : $0.00
    Marketcap : $0.00
  • binancecoinBNB(BNB)
    $0.00-1.88% 24H
    BNB
    24H : -1.88%
    Volume : $0.00
    Marketcap : $0.00
  • usd-coinUSD Coin(USDC)
    $0.00-0.01% 24H
    USD COIN
    24H : -0.01%
    Volume : $0.00
    Marketcap : $0.00
  • rippleXRP(XRP)
    $0.005.25% 24H
    XRP
    24H : 5.25%
    Volume : $0.00
    Marketcap : $0.00
  • cardanoCardano(ADA)
    $0.008.97% 24H
    CARDANO
    24H : 8.97%
    Volume : $0.00
    Marketcap : $0.00
  • staked-etherLido Staked Ether(STETH)
    $0.000.080% 24H
    LIDO STAKED ETHER
    24H : 0.080%
    Volume : $0.00
    Marketcap : $0.00
ApeWatcher News
Home » Spanish Police Spends USD 115K on Crypto Monitoring Technology to Fight Drug Smuggling
News

Spanish Police Spends USD 115K on Crypto Monitoring Technology to Fight Drug Smuggling

Crypto NewsBy Crypto NewsJuly 10, 20220 ViewsNo Comments
Share
Facebook Twitter LinkedIn Pinterest Email

The Spanish police force has announced that it will invest in tech platforms that will help officers catch drug traffickers who make use of cryptoassets.

According to El Español, officers who patrol the Strait of Gibraltar – the waters that wash Morocco, Spain, and Gibraltar – have spent almost USD 115,000 on two blockchain analysis solutions. They think these tools will allow them to trace cryptoassets they say are being used to fund drug deals.

The police claim that criminals are using crypto in an attempt to anonymize transactions or make them harder to trace.

Police expenditure records show that officers consider that the solutions will help detectives who are “analyzing electronic evidence related to criminal acts.”

The Ministry of the Interior, meanwhile, says that it believes that it is “necessary” to “continuously update” the police’s technological systems – a hint perhaps that the police might look to spend more on crypto monitoring tools in the future.

Last month, a major police operation busted two crime rings that had smuggled tons of marijuana and cocaine across the Strait – covering their tracks by hiding shipments in crates of tomatoes, watermelons, and melons.

AP, via ABC News, reported that the police found evidence that gangs have “paid off” corrupt “police and customs officers” to allow the shipments to enter Spain. Over 60 individuals, including several police officials, were arrested in 34 raids.

Officers say that some of the payments made to corrupt officials may have been made in crypto, or that money laundered through crypto transactions was then later used to pay for bribes. The police also added that it was still “looking for new tools” that officers could use to “trace” transactions linked to drug deals.

Another drug cartel – which was raided in February this year – was found to have been attempting to use crypto to launder money it had raised from narcotics deals.

But officers have found themselves struggling to trace crypto-related drug deals and – crucially – prove that suspicious-looking crypto wallets actually do belong to narcotics traders.

One police unit lamented that it was “practically impossible to produce high-quality reports” without the kind of solutions that the force has just spent USD 115,000 on.

Law enforcement agencies have also indicated that they will look to train their officers in crypto-related matters. They were quoted as stating that officers needed to possess “advanced knowledge of the way cryptocurrencies are used in money-laundering processes.”

Officers will also be instructed on how to “recover and manage” crypto used in crime – and that the police will back government “regulations that promote transparency” in the crypto industry.
____
 
– Another Report Confirms That Criminal Behavior Keeps ‘Dropping as a Percentage of Overall Crypto Activity’
– SIM Swaps, Other Crypto-related Crimes Set to Rise in South Korea, Says SK
 
– Crypto-related Criminal Cases Rise by 40% Year-on-Year in Russia
– Japanese Justice Ministry Wants Law Enforcers to Have Power to Seize Crypto

Read the full article here

Follow us on Google News to get the latest Updates

 
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Coinbase Says US Banking Crisis Reinforcing Crypto Assets to the Upside, Catching Attention of Institutions

March 22, 2023

Web3 Community Management Platform TYB Joins Shopify App Store

March 22, 2023

Vladimir Putin Says Russia Wrote Off African Countries’ Debts Totaling Over $20 Billion in 2022

March 22, 2023

Traditional banks rely on ‘tiny buffer’: Paris Blockchain Week 2023

March 22, 2023

$3.8 Billion in Cryptocurrency Lost to Hacks Last Year – How to Avoid Them in 2023

March 22, 2023

7 free learning resources to land top data science jobs

March 22, 2023
Add A Comment

Leave A Reply Cancel Reply

Top Articles

Coinbase Says US Banking Crisis Reinforcing Crypto Assets to the Upside, Catching Attention of Institutions

March 22, 2023

Web3 Community Management Platform TYB Joins Shopify App Store

March 22, 2023

Vladimir Putin Says Russia Wrote Off African Countries’ Debts Totaling Over $20 Billion in 2022

March 22, 2023
ApeWatcher News
Twitter Telegram
  • Privacy Policy
  • Sources
  • Terms and Conditions
  • Contact
  • Advertise
© 2023 Ape Watcher News

Type above and press Enter to search. Press Esc to cancel.