Armenia Takes Steps to Boost Financial Fraud Prevention with Cryptocurrency Training
Strengthening Ability to Investigate and Combat Financial Crimes
Yerevan, Armenia - The Armenian government has taken a significant step forward in its efforts to combat financial crimes involving cryptocurrencies and other virtual assets by receiving training from international experts. A recent training session brought together 23 representatives from the public sector in Yerevan for a targeted program aimed at enhancing their expertise in cryptocurrency-related crime investigation.
Targeted Training Program
The event was organized by 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). During the training, participants gained hands-on experience with advanced techniques and practical skills for tracing criminal transactions across different blockchains, as well as best practices from other law enforcement agencies. They also received an orientation to specialized analytics software and open-source tools.
Mitigating Money-Laundering Risks
The training is part of an OSCE extra-budgetary project aimed at mitigating money-laundering risks associated with virtual assets. The project, funded by Germany, Italy, Poland, Romania, the United Kingdom, and the United States, supports participating states in building national capacities to combat criminal risks related to virtual assets.
Importance of Building National Capacities
According to Vera Strobachova-Budway, Acting Senior Economic Officer at OCEEA, one of the organization’s top priorities is ensuring Armenia’s ability to address financial crime, particularly involving virtual assets. “We work closely with Armenian national agencies engaged in combating financial crime, with a particular focus on money laundering,” she said.
Continuing Support
The training marks the second session on investigating virtual assets for Armenian authorities, and OCEEA will continue to support Armenia in its efforts to combat money laundering through virtual assets. The project’s goal is to equip national authorities with the necessary tools and expertise to prevent and investigate financial fraud involving cryptocurrencies and other virtual assets.
Key Takeaways
- 23 representatives from the public sector in Yerevan participated in the training program
- Participants gained hands-on experience with advanced techniques for tracing criminal transactions across different blockchains
- Best practices from other law enforcement agencies were shared during the training
- OCEEA will continue to support Armenia in its efforts to combat money laundering through virtual assets