India is taking new measures for blockchain security; Training for police officers

India is educating it’s high ranking officers to fight against the crimes related to cryptocurrency. The Sardar Vallabhbhai Patel National Police Academy will be holding it’s a training course on 5th and 6th September this year in Hyderabad.

The Indian Police Service (IPS) officers who have passed the Indian Police Civil Services Examination will be conducting nominations for the officers to be selected for the training course, which is: “Investigation of cases involving cryptocurrencies,” and has placed restrictions on self-nomination.

Furthermore, the IPS officers can only be dismissed or commissioned via the President’s approval and these IPS officers will be working along with other officers in the crime branches of the respective states, they will be assigned.

India’s Union Home Minister, in February, said that they are now equipped with the technology to recover data from damaged hard disks and about 33,000 mobile phones along with cryptocurrency analysis and malware forensics.

The course is comprised of the following:

  1. How the cryptocurrency framework works.
  2. The legality of transactions.
  3. The crimes that can be committed using this technology as money laundering and
  4. The methods of tackling criminals at what they do best: crimes.

Indian Police have been subject to events related to crypto-crimes. The “KBC coin” scheme was busted by the Crime Investigation Department (CID) in Saurat.

The scheme promised to turn the output amount, ten times the input. (~$0.0015) to (~$0.015) and yet another case was unraveled that almost bankrupted a resident of Delhi by making the victim invest more than twenty thousand dollars ($20,000) in their own “Kashcoin.”

The Rajasthan Anti-Terrorist Squad (ATS) smoked out another scam that included a Standard Chartered Employee running movio.com to which the victims fell prey and lost a total sum of two million dollars ($2.2M).

India attended the G20 meetings and was in approval of the Financial Action Task Force (FATF)’s recommendations on crypto-security.

The Reserve bank of India (RBI) placed a ban on the financial institutions from keeping ties with the cryptocurrency, and its hearing is due July 23rd.