Financial Crime World

OSCE and UNODC Boost Armenia’s Capacity to Investigate Cryptocurrency Financial Crimes

Amid growing concerns over the use of cryptocurrencies in financial crimes, the Office of the Co-ordinator of OSCE Economic and Environmental Activities (OCEEA) and the United Nations Office on Drugs and Crime (UNODC) conducted a three-day intensive training session from June 12 to 14 in Yerevan.

A total of 23 representatives from the Armenian public sector came together to enhance their expertise in investigating crypto-related financial crimes, including money laundering, terrorist financing, and fraud.

Advanced Investigative Techniques and Skills

The training program covered advanced investigative techniques and practical skills, enabling participants to master the art of tracing criminal transactions across complex blockchain networks.

Expanding Investigative Arsenal

Participants also received an orientation to specialized analytics software and open-source tools, expanding their investigative arsenal to effectively combat crypto-related financial crimes.

“Strengthening Armenia’s capacities to investigate financial crimes, specifically those involving cryptocurrencies and other virtual assets, is one of our top priorities. We are dedicated to collaborating with Armenian national agencies in their fight against money laundering and are delighted to observe this growing interest in our project.” — Vera Strobachova-Budway, Acting Senior Economic Officer at OCEEA

OSCE’s Commitment to Supporting Armenia’s Efforts

Building on the success of previous training sessions, the OSCE is committed to continuing its support for Armenia’s endeavors to combat money laundering through virtual assets.

Addressing Money-Laundering Risks of Virtual Assets

The project, named “Innovative policy solutions to mitigate money-laundering risks of virtual assets,” is an extra-budgetary initiative funded by Germany, Italy, Poland, Romania, the United Kingdom, and the United States, intended to help OSCE participating States develop their national capabilities to manage the criminal risks related to virtual assets.