Ukrainian lawmakers and officials have received advanced training on identifying and investigating crypto-related financial crimes. The United Nations Office on Drugs and Crime and the OSCE Economic and Environmental Activities have organized the 4-day course.
Fourteen law enforcement and supervisory officials from Ukraine underwent the training from 14 to 17 November 2023 in Vienna. Per a press release, the course involved advanced techniques and the practical use of investigative tools to identify crypto-related crimes.
Ralf Ernst, Acting Co-ordinator of OSCE said that this is the second training on investigation of cryptocurrencies for Ukrainian officials.
“With the growing use of virtual assets and cryptocurrencies in Ukraine, there is a pressing need to strengthen the capacity of law enforcement and supervisory bodies. This is essential for effective investigations, enhancing Ukraine’s resilience against money laundering and other financial crimes.”
Additionally, the training also focused on advanced tracing of criminal transactions on different blockchains through case studies. Participants had an opportunity to familiarize themselves with specialized analytics software, the release added.
The troubled nation racked up $225 million worth of donations in cryptocurrencies alone, since the beginning of Russia’s full-scale invasion.
The OSCE has been conducting a project on “Innovative policy solutions to mitigate money-laundering risks of virtual assets.”
Countries including the US, UK, Germany, Poland and Romania funds the project. It supports governments of Georgia, Moldova and Ukraine in training national authorities on crypto-related criminal risks and mitigating methods.
In September, the IRS Criminal Investigation offered a similar course on money laundering, fraudulent cryptocurrency transactions and blockchain forensic investigations. Officials from various countries including the US and Netherlands attended the training.