OSCE and UNODC organize workshop for Ukrainian experts on countering criminal use of virtual assets and cryptocurrencies
On November 10 and 11, the Office of the Co-ordinator of OSCE Economic and Environmental Activities (OCEEA), in partnership with the United Nations Office on Drugs and Crime (UNODC) conducted a two-day workshop for representatives of relevant Ukrainian agencies to share best practices in implementation of international standards in regulating the virtual assets market.
The experts also discussed existing challenges of virtual assets (virtual currencies such as cryptocurrencies, gaming tokens, non-fungible tokens and governance tokens) management in law enforcement and judicial activities, and familiarised themselves with the overview of international legal framework and national legislation on cryptocurrencies and virtual assets.
The workshop provided participants with practical knowledge on cryptocurrencies, investigation of crypto-related crimes, as well as exploring the main tools and showing real-world examples of money laundering with virtual assets.
Recent developments in the area of virtual assets prove the relevance of the project and its activities, especially for the national authorities, lawmakers and other relevant agencies, particularly in Ukraine.
“The ability of national authorities to counter vulnerabilities of virtual assets present for money laundering is crucial, especially in these turbulent times. The OSCE, in partnership with UNODC will provide beneficiaries of the project with practical training on money laundering and terrorism financing risks of cryptocurrencies, investigation, seizure and confiscation, regulation, and customer due diligence. We will also be assisting Ukrainian law enforcement agencies in organizing awareness-raising activities and facilitating interagency and international co-operation in investigation of crimes conducted with the use of cryptocurrencies,” said Lorenzo Rilasciati, Senior Economic Officer of OCEEA.
The event is part of the extra-budgetary project on innovative policy solutions to mitigate money laundering through virtual assets, funded by the United States and Germany.