Russia’s Interior Ministry Uses Tool to Identify Crypto Wallet Owners, Track Transactions

According to Tass, employees of the MVD of the Ministry of Internal Affairs of the Russian Federation can now exclusively access the digital platform and one called the Personal Account of the Legal Reflection Agency. And apparently it is said by Police Lieutenant General Andrey Kurnosenko, Head of the Department of Economic Security and Anti-Corruption of the MVD, that this digitized project was already implemented and certainly the whole purpose and Implemented with the decision and now its successful purpose is being done. Certainly on 9th December it is being organized to raise public awareness in matters of dealing with corruption. Kernosenko pointed out that the analytical tool allows its allies to collect and assess information about specific risks to the Russian economy and, of course, to fight cybercrime and other areas related to it. Has the ability to adequately plan and compile results. While high-ranking MVD officials also point out that the integrated product will definitely help investigators monitor transactions and at the same time have the advantage that it is an evolved module that can be used to identify unscrupulous owners in crypto wallets. as well as help prevent many types of fraud and using the tool has already been a positive experience detailing that certainly after the announcement of MVD’s new crypto tracing capabilities the Ministry of Finance Russia KEY is reviewing and approving several proposals submitted by law enforcement agencies as part of its efforts to regulate the crypto space. Certainly we can say that one of the areas addressed was the seizure of digital assets and the other was reports of crypto transactions. WHEREAS it is reported that authorities in Russia 2 years ago created the ability to analyze on behalf of tracking transactions related to it and a platform was created which at the time was prototyped in August 2020 and reportedly employed technology dedicated to artificial intelligence was being done which was in the testing phase at that time.