23 Dec 2016
Source: Borneo Bulletin by Fadley Faisal

AS PART of the efforts of the Cybercrime Focus Group, established under the Criminal Justice Division of the Attorney General’s Chambers, to continuously educate stakeholders concerning cybercrime and cybersecurity trends, 17 Deputy Public Prosecutors (DPPs) recently attended a briefing provided by officers of IT Protective Security Services (ITPSS) Sdn Bhd concerning ‘Financial Technology (Fintech) and Cryptocurrency’.

At the briefing, which was aimed at bridging and inculcating communication and understanding of bitcoin and block chain technology, the Deputy Public Prosecutors were educated and informed concerning the basics, concepts and processes underlying cryptocurrency and its underlying technology. Following the briefing, both officers from ITPSS and the DPPs had the opportunity to discuss further on typologies, trends, and technical issues pertaining to the Fintech phenomenon in order to deepen understanding concerning cryptocurrency related activity, their decentralised nature and the differences and interactions between virtual currencies and the traditional financial system. The briefing was also useful in addressing any misunderstandings concerning the use of bitcoin and its associated technologies.

The briefing was a joint initiative by both the Attorney General’s Chambers and ITPSS Sdn Bhd aimed at encouraging dialogue through a public-private forum concerning the subject, where participants could share knowledge and seek answers both ways as well as serving as a platform for prosecutors to keep abreast with developments in the field and be knowledgeable in such emerging areas especially when confronted with the increase of illicit cryptocurrency related activity around the globe.