NCB, CBIC expose Rs 2.2 cr cryptocurrency payment in 11 drug trafficking cases

The NCB and CBIC have exposed Rs 2.2 crore payments through cryptocurrency in 11 drug trafficking cases. In a written reply to the Lok Sabha, Minister of State for Finance Pankaj Choudhary said the government is taking steps like conducting training for the field officers on cyber and forensic technologies and on the collection of evidence through electronic means to check such usage.

The minister also listed regular connection with technical experts, coordination with foreign drug law enforcement agencies and assistance to states for procuring equipment, including electronic surveillance systems as steps taken by the government to check the usage of cryptocurrency in drug trafficking.

Choudhary said, “Narcotics Control Bureau and Central Board of Indirect Taxes and Customs have unearthed the payment of approx Rs. 2.2 crore through crypto-currency in 11 cases linked to drug trafficking. The government is cognizant of the emergence of new technologies and rapid proliferation of emerging technologies, such as Artificial Intelligence, Blockchain, Drone, Augmented Reality / Virtual Reality, Metaverse, Web 3.0 etc.”