Illicit financial activities linked to cryptos are growing and becoming ever more complex. In this context, a state like Ukraine wants to equip itself to effectively fight against the phenomenon. The country thus supported the training of 14 of its civil servants as part of the activities of the Organization for Security and Cooperation in Europe (OSCE).
Cutting-edge crypto training delivered by the OSCE office
Fourteen (14) civil servants from Ukraine received advanced crypto training. The activity, organized in Vienna (Austria) from November 14 to 17, targets a single key objective. Strengthening Ukraine’s response to the growing challenges of crypto-related financial crime.
It was the Organization for Security and Cooperation in Europe (OSCE), a collective of 57 countries from Europe, Asia and North America, which initiated this formation. This is for certain officials responsible for the supervision and enforcement of the law in Ukraine.
Concretely, it was an opportunity for them to acquire cutting-edge crypto techniques and tools. These are considered essential for investigating financial crimes involving crypto operations. The initiative is in line with the OSCE’s ambition to strengthen Ukraine’s resilience to illicit activities. This, with a special focus on money laundering fueled by the growing use of virtual assets and cryptos in the country.
“With the growing use of virtual assets and cryptocurrencies in Ukraine, there is an urgent need to strengthen the capacity of law enforcement and surveillance agencies”explained Ralf Ernst, acting coordinator of economic and environmental activities of the OSCE.
Extent of training provided
From a practical point of view, the training provided to Ukrainian civil servants is presented as comprehensive. This, in that it embraces various questions considered to be fundamental for investigating financial crimes involving cryptos.
Thus, they received training on tracing crypto transactions across various blockchains. A possibility which is offered by the exploitation of latest generation software, dedicated to this type of investigation activities.
Accessibility to this training is not possible without funding. This was lifted with the help of the United States, the United Kingdom, Germany, Romania and Poland. This is part of help to mitigate criminal risks associated with cryptos in Georgia, Moldova and Ukraine.
It seems that this collaborative effort is not in vain. Recently, the stablecoin issuer Tether collaborated with Ukrainian and Israeli law enforcement agencies. This allowed the freezing of 32 wallets suspected of being linked to terrorist activities.
Receive a summary of the news in the world of cryptocurrencies by subscribing to our new service daily and weekly so you don’t miss anything of the Tremplin.io essentials!
