'Ukrainian Officials Undergo Training to Investigate Crypto-related Financial Crimes'
Summary:
Fourteen Ukrainian officials attended a specialist training course in Vienna from November 14 to 17 to improve their skills at investigating modern financial crimes involving virtual assets and cryptocurrencies. The course, organized by the Organization for Security and Co-operation in Europe (OSEC) and UNODC, aimed to increase Ukraine's capacity to combat financial crimes like money laundering, and addressed the need for stronger law enforcement in light of increasing cryptocurrency use. The officials learned techniques for tracking crypto transactions across various blockchains using specialized software. This is part of an ongoing effort to support Ukraine's anti-money laundering measures, particularly those pertaining to virtual assets and cryptocurrencies.
Between the 14th and 17th of November, Vienna hosted a comprehensive training program aimed at equipping fourteen Ukrainian officials with advanced investigative skills in modern financial crimes. This news was relayed via a report from the Organization for Security and Co-operation in Europe (OSEC), a collaborative body consisting of 57 countries drawn from Europe, Asia, and North America with a joint commitment to addressing global security and associated issues. They reported that Ukrainian supervisory and law enforcement officials had an opportunity to grasp cutting-edge techniques and tools for probing virtual asset-related financial crimes.
This training scheme was arranged collaboratively by the OSCE Economic and Environmental Activities Co-ordinator's Office and the United Nations Office on Drugs and Crime (UNODC). Ralf Ernst, the acting head of OSCE economic and environmental initiatives, shared that the training boosted Ukraine's capacity to combat financial crimes, including money laundering. He noted the rising utilization of virtual assets and cryptocurrencies in Ukraine, and the urgent necessity to upgrade the competence of enforcement and regulatory bodies.
The training enabled Ukrainian officials to track crypto transactions across various blockchains, using specialized analytics software. Ernst also disclosed that similar training focusing on crypto investigations had been provided for Ukrainian officials previously, and the OSCE would persist in bolstering Ukraine's capacity to curb money laundering, particularly with virtual assets and cryptocurrencies, under the 'Innovative policy solutions to mitigate money-laundering risks of virtual assets' initiative.
This project, financed by the United States, Germany, the United Kingdom, Romania, and Poland, is specifically formulated to assist in fortifying the governments of Moldova, Georgia, and Ukraine against criminal risks associated with virtual assets and cryptocurrencies.
In related news, Tether, a notable stablecoin issuer, recently teamed up with law enforcement agencies in Israel and Ukraine to suspend 32 accounts associated with possible terrorist activities. According to a Cointelegraph report, Tether valued $873,118 was seized from 32 wallet addresses located in Israel and Ukraine. Paolo Ardoino, Tether's CTO, declared that contrary to commonly held views, cryptocurrency transactions are not anonymous but represent the most traceable and trackable assets, illustrating the transparency inherent in the crypto ecosystem.
Published At
11/17/2023 9:24:26 AM
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