Ukraine officials sharpen skills in crypto crime investigations with OSCE training

The OSCE reported that twelve Ukrainian officials completed a three-day training on investigating crypto and blockchain transactions.

The Organization for Security and Co-operation in Europe announced on Friday, November 22, that it is hosting a three-day training session to strengthen Ukrainian authorities’ ability to investigate crypto-related crimes.

According to a press release, the online program focused on providing participants with skills to track illegal activity on blockchain networks. During the course, 12 officials from the National Securities and Securities Market Commission of Ukraine attended training, covering “basic topics such as the basics of blockchain technology, classification of crypto assets and specific methods used to investigate blockchain transactions.” ”

“The sessions also included interactive monitoring exercises with Bitcoin (BTC) and Ethereum (ETH), allowing participants to practice identifying transaction patterns and suspicious activity on the blockchain in real time.”

LAMENT

The initiative is part of a broader OSCE project funded by Germany, Italy, Poland, Romania, the UK and the US, which aims to strengthen the ability of participating states to reduce the risks associated with virtual assets, particularly money laundering and financial crimes. OSCE deputy project officer Maksym Mishalov Dragunov says that “criminal activity on blockchain networks is increasing,” and also explains that cryptocurrency offers a “unique advantage” in its ability to facilitate borderless, instant transfers.

In late October, US-based blockchain forensics firm Chainalytic reported that Ukraine saw a nearly 362% increase in large institutional decentralized finance transactions exceeding $10 million in 2023, contributing significantly to defi growth. The firm also noted similar trends in Russia, Belarus, Poland and Slovakia, where large corporate transfers are key drivers of defi expansion.