INTERPOL, a largest international police organization with 190 member countries, is hosting the Global Conference on Money Laundering and Digital Currencies, along with Europol and the Basel Institute on Governance, with the collaboration of the Qatar National Anti-Money Laundering and Terrorism Financing Committee.

The three-day conference is taking place from 16 to18 January at Qatar. The conference brings together close to 400 participants from law enforcement and private industry in 60 countries to discuss and address the risks associated with digital currencies like bitcoin, and how police can address these types of crimes through a global approach, the release stated.

“Digital currencies are not constrained by national regulations or borders, therefore cooperation in fighting against criminal uses of digital currencies must also transcend borders and integrate solutions from both law enforcement and the private sector,” Tim Morris, INTERPOL’s Executive Director of Police Services, said. He also highlighted the importance of global and cross-sectoral approach in making sure that digital currencies are not exploited by criminal enterprises.

Sheikh Fahad Faisal Al-Thani, Chairman of the Qatar National Anti-Money Laundering and Terrorism Financing Committee, upon opening the three-day event, commented the efforts to enhance the practical understanding of the use of digital currencies in money laundering. He also spoke about building powers in detection, investigation, and recovery of proceeds of crime that are stored in a digital form.

There have been several projects through the INTERPOL Global Complex for Innovation in Singapore including projects on bitcoin laundering and blockchain analytics, in a move to strengthen member countries’ capabilities in this sector. Additionally, INTERPOL has also conducted special training to aid law enforcement in finding organized crime networks within the Darknet and their use of digital currencies.