Title: OSCE and UNODC Train Armenian Authorities on Investigating Financial Fraud Cases Involving Cryptocurrencies
Background
- Escalating financial crimes involving cryptocurrencies and other virtual assets (OSCE and UNODC join forces)
- Three-day training seminar in Yerevan, Armenia (June 12-14, 2023)
Objectives
- Gain hands-on experience with advanced tracing techniques
- Examine real-world case studies
- Adopt best practices from international law enforcement agencies
- Introduction to specialized analytics software and open-source tools
Discussion
Training Details
The seminar brought together 23 public sector representatives from Armenia to enhance their skills in investigating financial fraud cases tied to virtual assets. The attendees utilized advanced tracing techniques, analyzed real-world case studies, and learned from international law enforcement agencies’ best practices in combating financial fraud cases involving cryptocurrencies.
Importance of Combating Financial Crimes
Vera Strobachova-Budway, the Acting Senior Economic Officer at OCEEA, emphasized the significance of Armenia’s ability to counter financial crimes, especially those related to virtual assets:
“OCEEA is dedicated to supporting Armenian national agencies working on financial crime suppression. Money laundering via virtual assets is a major concern for us.”
Commitment to Combatting Money Laundering
Strobachova-Budway further stated:
“We are thrilled to see the commitment of the Armenian authorities to combating money laundering through virtual assets. This is the second such training event we have organized, and the OSCE remains committed to ensuring Armenia’s success in this sector.”
Sponsorship of the Training Session
This training session forms part of an OSCE extra-budgetary project titled ‘Innovative policy solutions to mitigate money-laundering risks of virtual assets.’ The project is funded by Germany, Italy, Poland, Romania, the United Kingdom, and the United States, aiming to help OSCE participating States build their capacities in tackling criminal risks related to virtual assets.
OSCE (Office of the Coordinator for Economic and Environmental Activities)
- Part of the OSCE, focusing on economic and environmental issues
- Supports participating States in enhancing their capacities in these fields
UNODC (United Nations Office on Drugs and Crime)
- Global organization leading the fight against illicit drugs and related crime
- Helps Member States build capacity to address these issues