Russia’s Ministry of Interior implements a tool to monitor crypto transactions

Employees of the agency have already been connected to the “Personal account of the law enforcement body”

09.12.2022 - 07:15

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What’s new? The Ministry of Interior of Russia has implemented a digital service “Personal account of the law enforcement body” and connected to it the employees of the agency. The tool successfully functions and demonstrates positive results in identifying unscrupulous owners of cryptocurrency wallets. Police Lieutenant-General Andrey Kurnosenko, the Head of the Main Directorate for Economic Security and Anti-Corruption of the Ministry of Internal Affairs (GUEBiPK), told TASS in an interview.

Material by TASS

What else is known about the service? “Personal account of the law enforcement body” is equipped with an analytical module, which allows one to quickly receive and assess information about the financial risks of the economy throughout the country. In addition, the tool shows the results of joint work in the context of national projects, and the lines of work in the field of timber industry complex, utilities, defense industry, cybercrime, and other areas of activity.

The service also has an integrated module to monitor cryptocurrency transactions. It is it that identifies unscrupulous owners of crypto wallets, Kurnosenko said.

Earlier, the Ministry of Interior proposed to impose regulation of virtual reality. Representatives of the department believe that this will allow combating the negative impact on society.

In December, the State Duma of the Russian Federation told about the cooperation of foreign crypto exchanges with the Federal Security Service and the Ministry of Interior. Deputy Andrei Lugovoy reported that the criminalized share in the total turnover of digital assets is from 3% to 5%.

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