The ministry of home affairs is gearing up to organise a conference on international crime and security in the age of NFT, artificial intelligence and Metaverse. All G20 countries will be taking part in the conference, which is expected to be held in the second week of July in the national capital region.
Officials associated with the conference said after the ‘No Money for Terror’ (NMFT) conference, this will be another global conference organised by India.
According to sources, the conference will have delegations from 20 countries, global organisations fighting different types of crime, global and Indian tech giants and top-level officials like DGPs and chief secretaries from states. Union home minister Amit Shah is likely to chair the conference on the first day. This will be the second big conference on security and crime hosted by India.
Sources said there will be brainstorming sessions on key issues, including links between NFT (non-fungible token) and money laundering. Many countries have raised concerns regarding the use of NFTs for money laundering and terror financing.
A report prepared by the US Treasury stated that “no single platform operates the same way or has the same standards or due diligence protocols. Art auction houses or galleries may not have the technical understanding of distributed ledger technology required to practice effective customer identification and verification in this space,” states the ‘Report on money laundering and terror finance through the trade in works of art’.
The conference will also have discussions on the use of artificial intelligence (AI) in detecting crime and security lapses. Armies around the world have also started using AI for different purposes. For example, the Indian Army has geared up to use AI for operations in sensitive areas like Jammu and Kashmir.
Similarly, another key aspect of the discussions will be Metaverse. Apart from this, the two-day conference is likely to have sessions on new generation currency as well as Darknet and its use in the crime world.
Sources further said in the age of NFT and Metaverse, the crime scenario had rapidly changed as boundaries did not matter anymore. There are likely to be brainstorming sessions on cyber crime and state-sponsored threats, they added.
During the NMFT deliberations, the home minister had said India had sensed the need for permanency in this unique initiative of the NMFT. He said this was to sustain the continued global focus on countering terror financing and the time was ripe now for a permanent secretariat to be established.
Shah had said to take this thought forward, the chair statement included the offers to establish a permanent secretariat in the country and, shortly, India will circulate a discussion paper to all participating jurisdictions for their comments.
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