Ukrainian lawmakers and officials have undergone advanced training on the identification and investigation of crypto-related financial crimes. The training was organized by the United Nations Office on Drugs and Crime and the OSCE Economic and Environmental Activities during a four-day course.
From November 14 to 17, 2023, fourteen law enforcement and supervisory officials from Ukraine participated in the training held in Vienna. The course focused on advanced techniques and the practical application of investigative tools to identify and combat crimes related to cryptocurrencies.
Ralf Ernst, Acting Co-ordinator of OSCE, highlighted the growing use of virtual assets and cryptocurrencies in Ukraine, emphasizing the need to strengthen the capacity of law enforcement and supervisory bodies. The training aims to enhance Ukraine’s resilience against money laundering and other financial crimes through effective investigations. This marks the second training on the investigation of cryptocurrencies for Ukrainian officials.
In addition to identifying and investigating crypto-related financial crimes, the training also focused on advanced tracing of criminal transactions on different blockchains through case studies. Participants had the opportunity to familiarize themselves with specialized analytics software, as stated in the press release.
Ukraine, currently facing significant challenges due to Russia’s full-scale invasion, has seen substantial donations totaling $225 million in cryptocurrencies since the conflict began.
The OSCE has been engaged in a project titled “Innovative policy solutions to mitigate money-laundering risks of virtual assets,” funded by countries such as the US, UK, Germany, Poland, and Romania. The project supports the governments of Georgia, Moldova, and Ukraine in training national authorities on crypto-related criminal risks and mitigation methods.
This initiative aligns with broader global efforts to enhance the capabilities of law enforcement and regulatory authorities in dealing with the evolving landscape of virtual assets and cryptocurrencies. Similar training courses have been conducted by various entities, including the IRS Criminal Investigation, to address issues such as money laundering, fraudulent cryptocurrency transactions, and blockchain forensic investigations.