NYPD Explains Crypto Transaction Analysis Engine

New York Police Department published a 6-page paper on cryptocurrency transaction analysis mechanism in early 2020.

NYC police use a variety of "approved vendor" tools in their work. Previously, the information was kept secret, but in June 2020, the New York City Council demanded access to data on the technologies used by the police, including software for facial recognition and drone control.

The report was published on January 11, 2021. In it, the police admitted that during their work they use special tools to automatically search for transactions with cryptocurrency. The police conduct their work in accordance with the US Constitution and all the necessary requirements of the legislative bodies.

Data on instruments and transactions are publicly available. They are stored on the NYPD PC or New York Police Data Management System. Only authorized users have access to information about cryptocurrency transactions.

Transaction analysis software is used on a regular basis, including in criminal investigations. The types of crimes in the NYPD document are not detailed.

Previously investigated cases included Bitcoin phone fraud, SIM swapping and theft of $1 million in cryptocurrencies.

The full NYPD report can be read here