Key takeaways:
- At a training session, 14 Ukrainian officials received improved training on investigating modern-day financial crimes.
- In collaboration with the UN Office on Drugs and Crime, the Office of the Co-ordinator of OSCE Economic and Environmental Activities coordinated the course.
At a training session that took place in Vienna, Austria, from November 14 to November 17, 14 Ukrainian officials received improved training on how to investigate modern-day financial crimes.
Selected law enforcement and supervisory authorities from Ukraine were trained in the sophisticated methods and instruments needed to look into financial crimes involving virtual assets, according to a study published by the Organisation for Security and Co-operation in Europe (OSEC).
With 57 member nations from Europe, Asia, and North America, OSEC seeks to address security-related issues as well as other global concerns.
In collaboration with the UN Office on Drugs and Crime, the Office of the Co-ordinator of OSCE Economic and Environmental Activities coordinated the course.
Ukraine’s resilience against financial crimes, including money laundering, was strengthened by the training session, according to Ralf Ernst, acting coordinator of OSCE’s economic and environmental activities. He continued, saying:
“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.”
Training was provided to Ukrainian officials on how to use specialized analytics tools to track cryptocurrency transactions across several blockchains.
Ernst also disclosed that OSCE will “continue to support Ukraine’s efforts to combat money laundering, particularly through virtual assets and cryptocurrencies” as part of the creative policy solutions to mitigate the money-laundering risks of the virtual assets project.
The Ukrainian officials had previously received training on crypto investigations similar to this, Ernst said.
This project, which is intended to help the governments of Georgia, Moldova, and Ukraine reduce the dangers associated with cybercrime involving digital assets and cryptocurrencies, is funded by the United States, the United Kingdom, Germany, Romania, and Poland.
Tether, the stablecoin issuer, has worked with local law enforcement agencies in Israel and Ukraine to freeze 32 addresses that may have been connected to terrorist activities.
