Mounties on the Hunt: Canadian Police Launch Dedicated Cryptocurrency Investigations Center

Calgary Police Joins Forces with Chainalysis to Launch Cryptocurrency Investigations Centre to Tackle Crypto Crime

The Calgary Police Service, the largest city in the western Canadian province of Alberta, has partnered with blockchain analytics firm Chainalysis to launch a Cryptocurrency Investigations Centre. The center aims to combat crypto crime and will enable law enforcement to tackle crime that takes place using blockchain technology. The Western Canada Cryptocurrency Investigations Centre will strengthen the police’s ability to ensure public safety, allow for proactive policing, enhance technical investigative skills, and provide expert training resources for law enforcement.

Calgarians reported losses totaling $13.9 million due to cryptocurrency-related crimes to the police last year, and an additional $3.2 million has been reported so far this year. The police noted that cybercrimes, particularly cryptocurrency scams, can be difficult for law enforcement to fully investigate due to a variety of complex factors, including various international locations and jurisdictions, sophisticated criminal techniques, and quickly advancing technology.

Chainalysis described the new center as “an innovative regional center that will enable law enforcement to tackle crime that takes place using blockchain technology.” The blockchain firm’s research indicates that there has been a significant surge in the usage and adoption of cryptocurrencies and digital assets in Canada since 2019. In 2022, Canada ranked 22nd on the firm’s Global Crypto Adoption Index, an improvement from 26th in 2021 and 24th in 2020.

The Calgary Police Service Cyber Forensics Unit has created the CPS Blockchain Investigation Team (BIT), together with Chainalysis, dedicated to supporting cryptocurrency and blockchain-related investigations. The partnership aims to combat the rise of cryptocurrency-related crimes and help law enforcement agencies to better understand and tackle the complexities of blockchain technology.

The center’s creation and implementation will ensure the public safety of citizens, allow for proactive policing, enhance technical investigative skills, and provide expert training resources for law enforcement. The Calgary Police Service is the first law enforcement agency in Canada to partner with Chainalysis, and the new center will be a vital resource for the region’s law enforcement agencies. The partnership will provide law enforcement agencies with the tools and expertise they need to investigate and prosecute cryptocurrency-related crimes, ultimately making the region a safer place for all.

What do you think about this crypto center set up by the Calgary Police Service and Chainalysis? Let us know in the comments section below.

Martin Reid

Martin Reid

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