Ukrainian authorities have received training in the investigation of crypto and virtual assets

14 Ukrainian officials received advanced training for a new era of financial crime investigation at a training course held in Vienna, Austria from November 14 to November 17.

According to a report by the Organization for Security and Cooperation in Europe (OSEC), regulatory and law enforcement officials from Ukraine learned about advanced techniques and tools needed to investigate financial crimes using virtual assets.

OSEC is made up of 57 participating countries from Europe, Asia and North America and aims to address security-related and other threats at a global level.

The course was developed by the OSCE Office for the Coordination of Economic and Environmental Activities in cooperation with the United Nations Office on Drugs and Crime.

The OSCE acting co-ordinator for economic and environmental activities, Ralph Ernst, said the training course has increased Ukraine's resilience to financial crimes such as money laundering. He added:

“With the growing use of virtual assets and cryptocurrencies in Ukraine, it is important to strengthen the capacity of law enforcement and regulatory bodies.”

Ukrainian authorities are trained in monitoring crypto transactions on various blockchains using special analytical software.

Ernst also noted that the Ukrainian authorities have received similar training in crypto investigations in the past and that the OSCE will continue to support Ukraine's efforts to combat money laundering under the “Innovative policy solutions to combat the risks of money laundering and virtual assets” project.

The United States, United Kingdom, Germany, Romania, and Poland are funding this project, which is specifically designed to support the governments of Georgia, Moldova, and Ukraine in combating criminal threats related to digital assets and cryptocurrencies.

Related: Ukraine asks to provide local crypto business financing

Stablecoin issuer Tether recently cooperated with local law enforcement agencies in Ukraine and Israel to block 32 addresses linked to terrorist activity.

According to Cointelegraph, $873,118 worth of Tether (USDT) was deployed across 32 wallet addresses in Israel and Ukraine.

“Contrary to popular belief, cryptocurrency transactions are not anonymous. They are highly visible and addable assets,” said Tether CEO Paolo Arduino when explaining the transparency offered by the crypto ecosystem.

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