London police to receive cryptocurrency training

The City of London Police will form a task force whose members will receive specialised training on investigating crimes related to cryptocurrency.

The London Police Department says training will include ensuring officers learn how to detect, seize and investigate the use of cryptocurrency in financial and cyber crimes.

“It’s designed to provide delegates with the skills and knowledge required to recognise and manage cryptocurrencies in an investigation,” a spokesman said.

“It’ll be the first of its kind, and has been developed in response to feedback from police officers nationally who felt there wasn’t enough training available in this area.”

The pilot of the training programme is already underway at the London Police’s Economic Crime Academy and a second course is scheduled to begin in August, according to a London Police spokesperson.

The City of London Police plan to train police across the whole of the United Kingdom after the completion of the second training course, the spokesperson adds.

The UK capital’s police have been appointed the National Lead Force for Fraud because of their role in enforcing the law in one of the world’s most important financial hubs and, as such, have been handed down the responsibility to share its best practices with other forces around the UK.

Europol believes that criminals in Europe could be laundering about £4 billion annually through cryptocurrencies such as Bitcoin. Recently, the City of London Corporation revealed it intended to create a new Cyber Court to tackle cybercrime, financial crimes and fraud. The centre, which will house 18 courtrooms, will be located at Fleetbank House.