Ukrainian lawmakers and officials have recently completed a comprehensive training course on how to identify and investigate financial crimes related to cryptocurrency. The training, organized by the United Nations Office on Drugs and Crime and the OSCE Economic and Environmental Activities, took place over a period of four days from November 14 to November 17, 2023, in Vienna.
Advanced techniques and practical tools for combating crypto-related crimes
The course provided participants, consisting of fourteen law enforcement and supervisory officials from Ukraine, with advanced techniques and practical tools to effectively identify and combat crimes involving cryptocurrency. According to a press release, the training focused on using innovative investigative tools to trace criminal transactions on various blockchains. It also familiarized participants with specialized analytics software.
“This is the second training on the investigation of cryptocurrencies that we have organized for Ukrainian officials,” said Ralf Ernst, Acting Co-ordinator of OSCE.
The training aimed to equip the Ukrainian officials with the necessary skills to address the growing threat of money laundering and fraud in the cryptocurrency space. In recent years, the troubled nation has seen a significant increase in donations, with approximately $225 million worth of cryptocurrencies received since Russia’s full-scale invasion began.
International support and collaboration to mitigate crypto-related criminal risks
The OSCE, in collaboration with countries such as the US, UK, Germany, Poland, and Romania, has launched a project focused on innovative policy solutions to mitigate money-laundering risks associated with virtual assets. Through this project, they provide support to the governments of Georgia, Moldova, and Ukraine in training national authorities on crypto-related criminal risks and effective mitigation methods.
“Innovative policy solutions are critical in combating the increasing risks of crypto-related crimes. Collaborative efforts between countries are essential in addressing these challenges,” emphasized the OSCE representative.
In line with these efforts, the IRS Criminal Investigation also offered a similar training course in September, covering topics such as money laundering, fraudulent cryptocurrency transactions, and blockchain forensic investigations. Officials from various countries, including the US and the Netherlands, attended this training session, which further highlights the international collaboration in combating crypto-related crimes.
