To check illegal activities, Home Ministry developing tool to monitor and analyse crypto-currency transactions on Internet
With the growing use of crypto-currency and increased risk of it being used in illegal activities over the internet, the Ministry of Home Affairs (MHA) has formulated the requirement for developing a Cryptocurrency Intelligence and Analysis Tool (CIAT).
The project is being executed by the Indian Cyber Crime Coordination Centre, an establishment under the MHA that began functioning in 2020 to deal with training, research, forensics and investigation pertaining to cyber-crime.
According to sources, at present there is no indigenous tool available with law enforcement and regulatory agencies to monitor and maintain a database of addresses associated with illegal activities over the dark-net.