Moldova Steps Up Efforts to Combat Financial Crimes in Cryptocurrencies
Moldova has taken a significant step towards strengthening its ability to investigate financial crimes linked to cryptocurrencies by hosting a training session for law enforcement officials.
Combating Financial Crimes through Training
The three-day workshop, 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), brought together 15 representatives from Moldova’s law enforcement agencies. The training aimed to equip participants with cutting-edge techniques and practical tools to track down criminal transactions involving cryptocurrencies.
Advanced Methods for Investigating Cryptocurrency Transactions
The training covered advanced methods for tracing transactions across different blockchains, real-world case studies, best practices, and hands-on experience with specialized analytics software and open-source tools. Participants learned how to:
- Trace transactions across different blockchains
- Analyze complex financial data
- Identify suspicious activity in cryptocurrency transactions
- Use specialized software to track down criminal transactions
Emphasis on Building National Law Enforcement Capacities
According to Maksym Mishalov Dragunov, Assistant Project Officer at OCEEA, the training was crucial in light of the rapidly evolving landscape of financial technology. “As Moldova navigates this new terrain, it’s essential for our authorities to prioritize the development of national law enforcement capacities, particularly when it comes to enhancing investigative and tracing capabilities related to crypto-assets,” he emphasized.
OSCE Support for Combating Money Laundering
This marks the third such training session organized by the OSCE for Moldovan authorities aimed at combating money laundering linked to virtual assets and cryptocurrencies. The OSCE has pledged to continue supporting Moldova’s efforts in this regard.
Extra-Budgetary Project on Mitigating Money-Laundering Risks of Virtual Assets
The training is part of an extra-budgetary project led by the OSCE on “Innovative policy solutions to mitigate money-laundering risks of virtual assets”, funded by Germany, Poland, Romania, the United Kingdom, and the United States. The project aims to support participating OSCE states in building national capacities to combat criminal risks associated with virtual assets and cryptocurrencies.
Project Objectives
The objectives of the project include:
- Building national capacities to combat money laundering linked to virtual assets
- Developing innovative policy solutions to mitigate money-laundering risks of virtual assets
- Supporting participating OSCE states in implementing effective measures against financial crimes related to cryptocurrencies.