The European Union Anti-Corruption Initiative has conducted a series of virtual trainings on cryptocurrency for Ukrainian officials.
A total of 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 the trainings in January.
Each training session was customised 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.
“In the 21st century, cryptocurrency has become a highly popular tool for money laundering, concealing, and securing illicit assets derived from crime. This tool was developed to anonymise the perpetrator of the crime so that the final beneficial owner remains unrevealed and therefore avoids persecution,” explains EUACI. “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.”
Find out more