An innovative regional center was launched in Western Canada to allow law enforcement agencies to combat crimes committed in the blockchain space.
The Calgary Police Service (CPS) teamed up with analytics company Chainalysis to launch the Western Canada Cryptocurrency Investigations Centre. The initiative’s main goal is to expand the government’s efforts to combat the growing crime associated with cryptocurrency theft.
The center will allow the Calgary police department to use Chainalysis data to introduce “private-sector expertise” and expand training programs for investigators. As part of the collaboration, Chainalysis will provide police officers with “around-the-clock case support.”
According to Jonathan Levin, Co-Founder and Chief Strategy Officer of Chainalysis, the partnership will increase confidence in digital assets and blockchain in the region. He also noted that the collaboration with law enforcement agencies in Canada was just the first step for the company as part of its ambitious vision to combat cybercrime. Levin believes that in the long run, the initiative will allow law enforcement agencies around the world to protect cryptocurrency users.
Mark Neufeld, CPS Chief Constable, said cybersecurity should be a priority part of training for the next generation of police officers as criminal activity in the virtual space skyrockets. In his opinion, the “unique partnership” with Chainalysis will help keep not only residents of Calgary but the entire of Canada safe.
Chainalysis estimates that in 2022, more than $41 million was lost to crypto fraud in Canada. According to the Ontario Securities Commission (OSC), one in three Canadians will be using crypto by 2024.
