Kuala Lumpur (Malaysia), 31 May 2022 – The United Nations Office on Drugs and Crime (UNODC) and the Royal Malaysia Police (RMP) have jointly opened in Kuala Lumpur Southeast Asia’s first Cryptocurrency Analysis Laboratory. The laboratory will facilitate RMP’s operation in conducting investigation and analysis of cryptocurrency-related crimes.
Prior to the opening of the laboratory, UNODC and RMP worked closely to set up the facility, funded by the Government of Japan. Located at the Commercial Crime Department, the laboratory enables RMP to more efficiently conduct investigations, analyses, seizures in cases involving cryptocurrencies. The laboratory is specialized in countering the rise in criminal cases using cryptocurrencies, particularly investment fraud that exploits cryptocurrency as a means of committing crimes, including ransomware.
The RMP is the only police force in the country with a special unit dedicated to investigating cases involving cryptocurrency.
“Cryptocurrency adoption in Malaysia has significantly increased, with over RM 20 billion in digital assets traded in 2021. Cryptocurrency-related crimes, particularly ransomware and investment fraud, are also on the rise. As a result of our continuous collaboration, the establishment of the laboratory will enhance the capacity and capability of law enforcement and criminal justice authorities to investigate, analyze and solve crimes more efficiently.”— Mr. Julien Garsany, UNODC Deputy Regional Representative for Southeast Asia and the Pacific.
With cutting edge technology and equipment, the laboratory operates with a great capacity to trace and analyze cryptocurrency-related transactions. Its capacity will be used to improve skills and deliver training to RMP investigating officers dealing with cryptocurrency issues.
UNODC and RMP will continue to collaborate on initiatives to facilitate the sharing of best practices and learnings on cryptocurrency and cybercrime developments. UNODC will provide continuous training and capacity-building to law enforcement authorities to ensure that they are prepared to tackle evolving crime trends using cryptocurrencies.
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