Georgian authorities strengthen skills to combat cryptocurrencies risks through OSCE-UNODC training course in Tbilisi

Twenty law enforcement and government representatives strengthened their skills in identifying and investigating the illegal use of cryptocurrencies and other virtual assets through a training course held from 27 February to 2 March 2023 in Tbilisi, Georgia. The course was organized by the Office of the Co-ordinator of OSCE Economic and Environmental Activities (OCEEA) with the support of the United Nations Office on Drugs and Crime (UNODC).

“The rapidly expanding digital economy attracts both lawful businesses and criminals,” said Kurban Babayev, Associate Anti-Corruption Officer at OCEEA. “This course will contribute to the participants’ capacity to identify and investigate the illegal use of cryptocurrencies and other virtual assets.”

The course covered key concepts and practical tools, such as profiling and tracing, for investigating criminal transactions that use virtual assets and cryptocurrencies. Topics also included how to identify cryptocurrency-specific criminal and fraud schemes, such as fake initial coin offerings and fraudulent access to Web3-wallets. 

The training course is part of an OSCE-led extra-budgetary project on innovative policy solutions to mitigate money-laundering risks of virtual assets. The project is designed to support the governments of Georgia, Moldova and Ukraine in building national authorities’ capacities to mitigate criminal risks related to virtual assets and cryptocurrencies. The project is funded by the United States, the United Kingdom, Germany, and Poland.