The US Army Criminal Investigation Command (USACIDC) is seeking to intensify its efforts to effectively track illegal cryptographic transactions using a cloud-based solution. The solution involves a Software-as-as-Service web application that has the ability to detect illegal cryptographic transactions in order to combat money laundering and fraud. According to a recently released statement of work, the Major Cyber Crime Unit and the FBI have also expressed their intention to use the app to limit illegal crypto transactions.
In addition, the organization has announced that it is actively taking up offers for any tested and already developed application. The application must be ready for use in the fight against fraud and money laundering. All offers must be submitted before the deadline of July 20.
USACIDC defines the conditions of the Web application
USACIDC, a branch of the military that is cruelly responsible for investigating any criminal involvement in the world, has set the conditions that the application must meet to allow it to effectively monitor illegal trade. The app must also be able to analyze all major cryptocurrencies such as Bitcoin in real time; allowing users to investigate the origin of cryptographic transactions.
Additionally, the app should quickly detect suspicious activity involving illegal cryptographic transactions when tracking cryptocurrency connections.
The application should also offer features such as model analysis and participation in other entities. In addition, it should provide a link analysis tool which will prove useful in the data analysis process.
Intensify efforts to combat illegal crypto transactions
Earlier last year, the United States Army Contracting Command of New Jersey issued a notice calling for an app that would help security agencies identify people involved in the illegal crypto trade. Development of a web-based military application; alongside other competent government agencies, will massively intensify their efforts to combat illegal cryptographic transactions in the sector.