Cryptocurrencies have the potential to make life easier for millions of people around the world. However, there are certain problems as well. The United States Army Criminal Investigation Division Command (USACIDC) decided to tackle the problems connected with illegal crypto activities.
The U.S. Army is seeking a Software-as-a-Service web application to help them identify cryptocurrency transactions. Importantly, based on information taken from a statement of work published on July 10, apart from USACIDC, Major Cybercrime Unit and FBI will also use this application. They want to use this application to detect activities such as fraud, extortion as well as money laundering carried out using cryptocurrencies.
U.S. Army and crypto-related crimes
Interestingly, companies that would like to win this contract should take into consideration several factors. The organization is taking bids, for developed, tested as well as read-to-deploy web applications till July 20.
The United States Army Criminal Investigation Division Command conducts criminal investigations around the world. They are looking for an application, that has the ability to analyze Bitcoin and other major cryptocurrencies in real-time. Moreover, this application should allow users to conduct an in-depth investigation regarding the source of cryptocurrency transactions.
Furthermore, the application should help the USACIDC when it comes to the quick detention of criminal and suspicious connections. This is not the end of the story, as the organization wants to use this application to identify suspicious cryptocurrency transactions as well as to investigate cryptocurrency connections.
Moreover, the application should be able to spot suspicious transaction patterns and interactions with other entities. Also, this application should include a link analysis tool to facilitate the analysis of data.
Crypto-related crimes represent a serious challenge not only for the U.S. Army but for the FBI, etc. Thanks to this application, it will be easier to cope with illegal crypto activities. However, it won’t be easy to choose the application that will be able to fulfill all tasks.