US Army Seeks a Cloud-Based Solution to Track Illicit Crypto Activities

The United States Army Criminal Investigation Division Command (USACIDC) is seeking a Software-as-as-Service web application to help them track and trace illicit cryptocurrency transactions.

According to a statement of work published on July 10, the USACIDC along with the Major Cybercrime Unit and FBI will use the application to detect activities such as fraud, extortion and money laundering carried out using cryptocurrencies. 

The organization is taking bids for developed, tested and read-to-deploy web applications for the purpose till July 20. 

The application must allow multi-currency analysis

As per the USACIDC — an arm of the U.S. Army that conducts criminal investigations worldwide — the web application they are seeking must be able to analyze Bitcoin (BTC) and other major cryptocurrencies in real-time while also enabling users to “conduct an in-depth investigation into the source of cryptocurrency transactions.”

The document further explains that the cloud application should help the USACIDC with quick detection of “criminal and suspicious financial connections, identify suspicious cryptocurrency transactions, and investigate cryptocurrency connections.”

The application should also come with the ability to spot suspicious transaction patterns and interactions with other entities, and a link analysis tool to facilitate the analysis of data.

Last year, in July, the United States Army Contracting Command of New Jersey published a pre-solicitation notice seeking a similar web application to help law enforcement agencies to track and identify people using cryptocurrencies for illegal purposes.