Ukrainian officials receive training on investigating crypto-asset crimes

Twelve officials from the National Securities and Stock Market Commission of Ukraine  attended a basic training on investigations involving crypto-assets from 20 to 22 November. The three-day online training session provided an opportunity for participants to improve their knowledge about crypto-asset investigations. Organized by the Office of the Co-ordinator of OSCE Economic and Environmental Activities (OCEEA), the training introduced participants to essential concepts of blockchain technology alongside practical tools and strategies for investigating criminal activities involving crypto-assets.

The training session covered key topics such as the basics of blockchain technology, the taxonomy of crypto-assets, and the specific methods used for investigating blockchain transactions. Participants learned how to use both commercial and publicly available blockchain analytics tools to follow the flow of crypto-assets, tracing potentially illicit activity. The sessions also included interactive tracing exercises with Bitcoin (BTC) and Ethereum (ETH), which allowed attendees to practice identifying transaction patterns and suspicious activities on the blockchain in real time.

The training session is part of the OSCE's broader efforts to support participating States in mitigating the risks associated with virtual assets, particularly regarding money laundering and other financial crimes. Practical exercises and real-world case studies were a major focus of the event, providing participants with the opportunity to apply theoretical knowledge in a practical setting.

“Criminal activity on blockchain networks is on the rise. While cash remains the most common tool for illicit transactions, cryptocurrency offers a unique advantage: the ability to facilitate borderless, instantaneous transfers globally,” said Maksym Mishalov Dragunov, Assistant Project Officer at OCEEA and one of the trainers of the session. “This underscores the urgent need to raise awareness and enhance the capacity of OSCE participating States to investigate and trace these unlawful activities.”

The training session is part of an OSCE extra-budgetary project on “Innovative policy solutions to mitigate money-laundering risks of virtual assets”, funded by Germany, Italy, Poland, Romania, the United Kingdom and the United States. The project supports OSCE participating States in building national capacities to mitigate criminal risks related to virtual assets.