Cryptocurrency Training for Ukrainian Officials Provided by the EUACI

80 officials from the State Financial Monitoring Service, the Asset Recovery and Management Agency, the National Anti-Corruption Bureau, the Special Anti-Corruption Prosecutors Office, the Bureau of Economic Security, and the Freeze and Seize Task Force joined a series of virtual training on cryptocurrency.

In 21st century cryptocurrency become a highly popular tool for money laundering, concealing, and securing illicit assets derived from crime. This tool was developed to anonymize the perpetrator of the crime so that the final beneficial owner remains unrevealed and therefore avoids persecution. This fact creates a lot of additional obstacles to law enforcement during the investigation of cases involving crypto-currency.

Nowadays, law enforcement authorities and financial analysts are struggling to find ways to trace cryptocurrency and find links between transfers of cryptocurrency from one electronic wallet to another and identify the final beneficial owner. We are here, in the EUACI, trying to help our partners to get the necessary knowledge to investigate cases with crypto assets more effectively and always bring the best experts in the field to share modern solutions and best practices in investigating cases of different complexity.

Each training session was customized to address the specific needs of the agencies based on international case studies. The asset recovery specialists covered the basic mechanisms of cryptocurrencies and digital assets. The participants explored the latest methods for tracing, seizing and handling stolen virtual assets.

The event was provided by Asset Reality on 19-20 January 2023 with the support of the EUACI.

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