Dubai Police collaborates with Crystal Intelligence to identify crypto crimes in digital era

Dubai Police collaborates with Crystal Intelligence to identify crypto crimes in digital era

Crystal Intelligence an advanced blockchain analytics and on-the-ground intelligence firm empowering financial institutions, governments & regulators in the fight against cryptocurrency crime, has signed an MOU ( Memorandum of Understanding) with Dubai Police in specific the Department of Criminal Investigation.

As per the blog post, the partnership aims to promote collaboration in identifying and predicting future economic crimes, an increasingly important issue as digital threats continue to evolve.

“At Dubai Police, we are committed to strengthening our security infrastructure by collaborating with internal and external partners. Based on global studies, the General Department of Criminal Investigation develops strategic plans that anticipate future security challenges, including economic crimes, which are becoming more sophisticated,” stated Brigadier Al Shamsi. “As countries and individuals increasingly rely on technology in both professional and personal spheres, we must adapt to these trends to ensure that Dubai remains the safest city in the world.”

Navin Gupta, CEO of Crystal Intelligence, highlighted the importance of this collaboration, describing the MoU as a strategic milestone. “This partnership underscores Crystal Intelligence’s commitment to working closely with Dubai Police to share knowledge and expertise across various fields. Together, we aim to develop and implement high-impact initiatives and projects that will strengthen our collaboration,” Gupta added.

A month prior to this Crystal Intelligence announced that BitOasis, crypto exchange would be utilizing Crystal’s advanced blockchain analytics and anti-money laundering (AML) solutions setting a new standard for compliance and security in the region.

Using Crystal Intelligence AML and transaction monitoring technology, BitOasis would have access to real-time insights and analytics designed to prevent fraud and ensure compliance with regional regulations.

At the time of the announcement, Navin Gupta, CEO of Crystal Intelligence, notes, “The UAE, with its forward-thinking approach, is poised to become the Crypto Capital of the world. With our blockchain intelligence expertise, we are proud to empower licensed firms like BitOasis to keep their platform and users safe.”

By integrating Crystal’s blockchain intelligence capabilities, BitOasis will not only bolster its compliance framework but also lead the way in establishing best practices for crypto regulations in the region. The partnership underscores the importance of aligning technological innovation with robust regulatory standards, ensuring that the growth of the digital assets space is both secure and sustainable.

Crystal’s recent announcement of opening a new office in Dubai, highlighting its commitment to serving the MENA region. As regulations continue to evolve in this fast-paced sector, Crystal aims to provide its partners with the tools they need to stay ahead of compliance challenges.

Is Qatar warming up to crypto and its compliance?

Is Qatar warming up to crypto and its compliance?

In a recent development, Crystal Intelligence, a company which works and develops tools for blockchain and crypto investigation and AML (Anti Money Laundering) compliance, held a two-day workshop in Qatar with the Qatar Financial Authority (QFC).

The workshop centered on discovering effective strategies for law enforcement in seizing cryptocurrencies, featuring insights from Federico Paesano, Investigation Lead at Crystal Intelligence.

The Blockchain Crypto Compliance and Investigation Training Program by QFC and Crystal Intelligence provided attendees with a solid foundation in blockchain technology and cryptocurrencies, emphasizing practical knowledge and compliance.

It also shed light on key stakeholders while sharing cryptocurrency’s use cases and functions relative to the traditional financial system.

This would look like an interesting development given that previously Qatar Central Bank had considered the trading of crypto as illegal.

While Qatar has warmed up towards blockchain and the utilization of digital assets in the tokenization realm, it seems that today it has started to seek to learn how to navigate the cryptocurrency realm. QFC is also preparing for its digital assets Hackathon.

 Crystal Intelligence states on its website that it works with Government agencies, supervisory bodies, law enforcement and investigators use our powerful technology, visualization tools and trusted intelligence to boost blockchain investigations and trace criminals.

It also works with traditional banks, asset management firms, insurance companies, crypto exchanges and other types of financial services to ensure that their systems and technology meets AML/CTF obligations.