Opportunities for blockchain in police investigations

The problem of spreading cybercrime is becoming more acute today, and developed countries with high gross domestic product rates suffer from it to a much greater extent than developing countries. This is due to the fact that the more advanced technologies are used by society, the stronger its dependence is on digital structures. And this, in turn, creates more opportunities for cybercriminals. In 2021, the damage from cybercrime is predicted to be $6 trillion — twice as much as in 2015.

Meanwhile, the terms cybercrime and cyberterrorism differ in various legal systems. Some criminologists divide these concepts; others consider them as equivalents. Barry Collin, a senior research fellow at the Institute for Security and Intelligence in California, first defined the term “cyberterrorism” in the 1980s. He understood this meaning as a convergence of the virtual and physical worlds and saw no difference between cybercrime and cyberterrorism. Later, other definitions of the term appeared.

The United States Federal Bureau of Investigation refers to cyberterrorism as a deliberate attack on any information that results in violence against non-combatants and other social and national groups. However, this definition is rather vague because it easily classifies almost any online fraud as cyberterrorism. Another distinguishing feature of cyberterrorism is the frequent mention of it in conjunction with cryptocurrencies.

Tracking transactions

Blockchain technology offers a wide range of opportunities to investigate crimes and counteract possible attacks by cybercriminals. On one hand, a blockchain allows tracking suspicious transactions and blocking the movement of funds into the accounts of potential criminals and persons associated with them. It is also possible to track ICO venture funds to prove misuse and embezzlement of investors’ funds. On the other hand, the investigative data stored on the blockchain, as well as any other forensic databases, will be…

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