Ukraine officials sharpen skills in crypto crime investigations with OSCE training

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As a seasoned analyst with over two decades of experience in the financial sector, I find this development particularly intriguing and commendable. The OSCE’s initiative to train Ukrainian officials in investigating crypto and blockchain transactions is a strategic move towards combatting financial crimes in the digital age.

As a researcher, I participated in a three-day training program conducted by OSCE, focusing on the investigation of cryptocurrency and blockchain transactions. Twelve Ukrainian officials were part of this training.

On Friday, November 22nd, the Organization for Security and Co-operation in Europe (OSCE) revealed they conducted a three-day workshop aimed at enhancing the investigation capabilities of Ukrainian authorities concerning cryptocurrency-related offenses.

According to a recent announcement, an online program was designed to help attendees understand how to track illegal activities on blockchain networks. As part of this training, 12 representatives from Ukraine’s National Securities and Stock Market Commission participated. The curriculum included essential subjects like the fundamentals of blockchain technology, the classification of cryptocurrencies, and techniques for probing blockchain transactions.

During the workshops, participants got hands-on experience following along with live exercises involving Bitcoin (BTC) and Ethereum (ETH). This enabled them to hone their skills in recognizing transaction trends and potential malicious activities directly on the blockchain.

OSCE

The initiative is part of a wider OSCE project, financed by Germany, Italy, Poland, Romania, the U.K., and the U.S., aimed at strengthening the capacity of participating countries in managing risks related to digital currencies, particularly combating money laundering and financial crimes. Maksym Mishalov Dragunov, an assistant project officer at OSCE, stated that criminal activities on blockchain networks are increasing. He also mentioned that cryptocurrencies provide a “distinct advantage” by enabling cross-border, immediate transactions.

By the end of October 2023, a U.S. blockchain investigation company named Chainalysis discovered that Ukraine experienced a substantial surge of approximately 362% in significant decentralized finance transactions valued over $10 million. This growth significantly boosted Ukraine’s DeFi sector. Furthermore, the firm observed comparable patterns in Russia, Belarus, Poland, and Slovakia, where large institutional transfers played a crucial role in driving DeFi expansion.

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2024-11-22 14:46