Those responsible for drug smuggling and terrorism in India are increasingly making use of the darknet and cryptocurrencies, Indian Home Minister Amit Shah reportedly said.
Shah made the remarks at a regional meeting on drug trafficking and national security, according to a Thursday (Oct. 27) report by news agency IANS posted by the Business Standard.
The number of drug smuggling cases registered in the area between 2014 and 2022 was 152% higher than the number registered from 2006 to 2013, Shah said, according to the report.
The remarks came as Indian authorities are reportedly investigating allegations of illegal drug transaction facilitation by three unidentified Indian crypto exchanges, The Economic Times reported Thursday.
“Digital currency was used to buy and sell drugs and some of these companies facilitated it,” according to a senior government official quoted in report.
These alleged transactions took place over three years and were worth about $3.4 billion, CoinDesk reported Thursday.
As PYMNTS reported Oct. 7, the U.S. Department of Justice announced an indictment on charges of a money laundering conspiracy in which cryptocurrency was allegedly used to launder more than $5.35 million for a drug trafficking organization that allegedly distributed counterfeit pharmaceutical pills and other controlled substances.
Read more: Crypto Used in Alleged $5.4M Drug Peddling Conspiracy Case
The indictment by a federal grand jury alleged that John Khuu, 27, from San Francisco, California, and others conspired to launder drug trafficking proceeds through cryptocurrency, used the dark web as a marketing portal and distributed controlled substances to people nationwide.
In the United Kingdom, a proposed law will make it easier for authorities to seize, freeze and recover crypto used by criminals to launder profits from illegal activity.
See more: UK Bill Will Make It Easier to Seize Crypto in Money Laundering Cases
As PYMNTS reported Sept. 22, the bill introduced into the British Parliament is designed to crack down on “kleptocrats, organized criminals and terrorists.”
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