Singapore Attorney-General's Chambers establishes "Virtual Currency" task force to assist in tracing and handling of crypto assets.

According to a report by The Straits Times, in response to the increasing incidents of new types of technology-related crimes since the late 1990s, the Singapore Attorney-General's Chambers has begun cultivating a team of prosecutors specializing in technology-related crimes through various means. This year, they have officially established two specialized task forces to address these issues, named:

The Singapore Attorney-General's Chambers Establishes Task Forces for "Cryptocurrency" and "Technology Crime"

According to a report by Lianhe Zaobao, in response to the emergence of new types of technology-related crimes since the late 1990s, the Singapore Attorney-General's Chambers has begun cultivating a group of prosecutors dedicated to technology crime through various means. This year, two task forces have been officially established to address these issues:

• Technology Crime Task Force: Dealing with computer or technology-assisted crimes, as well as handling digital evidence
• Cryptocurrency Task Force: Addressing various issues arising from cryptocurrencies as assets, including assisting the Singapore Police Force in tracking, seizing, and disposing of such assets.

Additionally, all prosecutors in Singapore must receive basic training on technology-related crimes and digital evidence to ensure a smooth process of investigating and prosecuting financial crimes, with prosecutors from the two task forces providing assistance when necessary.

Furthermore, the personnel from these two task forces will collaborate with relevant government agencies such as the Criminal Investigation Department and the Accounting and Corporate Regulatory Authority, and undergo relevant professional training, including attending overseas conferences.

In an interview with Lianhe Zaobao, Deputy Chief Prosecutor of the Attorney-General's Chambers, Mr. Kow Keng Siong, emphasized the importance of collaboration with private enterprises, stating:

"We at the Attorney-General's Chambers also maintain contact with large tech companies, such as social media companies, because in combating cybercrimes and addressing the challenges brought about by the rise of technology, collaboration between the public sector and private industry is crucial."