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The New York Police Department explains its use policy for digital currency transaction analysis.

The New York Police Department (NYPD) has published a six-page report explaining its use policy for digital currency transact
The New York Police Department (NYPD) has published a six-page report explaining its use policy for digital currency transaction analysis.

The New York Police Department has published a six-page report that explains its use policy for cryptocurrency transaction analysis. The police department’s use of such tools, sourced from unnamed “approved vendors,” was not publicly acknowledged until now. The admission comes as part of a wider release of impact and uses policies related to the NYPD’s surveillance capabilities. Earlier, the New York City Council passed a bill forcing the NYPD to give details on its use of such technology, including drones and facial recognition software.

NYPD uses crypto transaction analysis tools to further criminal investigations.

Contained within the January 11 report, the NYPD disclosed it uses “cryptocurrency analysis tools to automate the search for information associated with cryptocurrency transactions” to further criminal investigations. The tools enable the NYPD to collect, store, process, or share information associated with cryptocurrency transactions, including audio, video, location, etc. The NYPD’s safeguard and security policy limit access to cryptocurrency analysis tools and the transaction data it collects in order to balance public safety with individual privacy. The crypto transaction analysis tools they use do not use artificial intelligence, machine learning, facial recognition, or any other biometric measuring technologies.

Only authorized personnel with certain user permissions can use the tool.

Only authorized personnel with certain user permissions can use the crypto transaction analysis software, and only on the decentralized public ledger’s digital currency transactions. The NYPD further stated that such methods “must be used in a manner consistent with the requirements and protections of the Constitution of the United States, the New York State Constitution, and applicable statutory authorities.” Analysis tools allow their investigators to get information about suspects’ cryptocurrency transactions and trace the funds through the blockchain.

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