Interpol conference will discuss digital currency abuses
A conference being held by Interpol from the 17th to the 19th of November will discuss the role of Bitcoin and other digital currencies in the trade of illegal assets, according to a spokesperson from the top law enforcement agency of India, the Central Bureau of Investigation (CBI). The same CBI spokesperson also reportedly said that the technology is receiving increasing attention from law enforcement agencies, due to its growing use in cybercrime. Interpol has so far been one of the most pro-active law enforcement organisations in raising awareness regarding the illicit uses of digital currencies.

NEW DELHI: The clandestine world of 'Dark Web' and virtual currency bitcoins will be the focus of deliberations among global investigators gathering here on Wednesday for the sixth global conference on asset recovery organised by Interpol The 'Dark Web' which is commonly used by terror organisations and unscrupulous elements to communicate without getting intercepted by intelligence and security organisations has caused concerns in global security apparatus, CBI today said.Another issue is Bitcoins, which have evolved as virtual currency and now are being used for transferring money for shady deals across countries with value of one Bitcoin estimated to be around USD 650, CBI spokesperson Devpreet Singh said here.Besides, recently issued Silver Notice by Interpol to locate, identify, obtain information, monitor freeze and confiscate assets of criminals by member states will be discussed among the participants from 51 countries.The 6th Global Focal Point Conference on Asset Recovery to be inaugurated by Prime Minister Narendra Modi will aim to respond to concerns of asset freezing, seizing, confiscating and recovering stolen assets.Launched on 19th January, 2009, the Global Focal Point is a partnership between StAR and INTERPOL which was created to promote and increase the exchange of corruption data among law enforcement agencies and anti-corruption entities worldwide, Singh said."StAR is a partnership between UNODC and World Bank. 'Focal Points' are anti-corruption practitioners registered with the project who form an international network of experts," she said.The 21st Conference of CBI, state Anti Corruption Bureaux and Vigilance Bureaux will also be inaugurated by the Prime Minister.The conference will cover various sub-themes namely - 'Evolving common approach to combat corruption across multiple jurisdictions'; 'Addressing challenges in the existing Anti Corruption legal frame work' and 'Best practices in Anti Corruption Efforts'.