OCEEA and UNODC partner to train Armenia’s law enforcement agencies to investigate crypto-crimes

Participants at specialized training session on crypto-asset investigations, Yerevan, 26 April 2024. (OSCE) Photo details

To enhance Armenia's capacity to tackle crypto-related crimes, 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), gathered 27 representatives from various law enforcement agencies for a specialized training session on crypto-asset investigations from 24 to 26 April.

During the three-day training held in Yerevan, participants learned about fundamental techniques and practical tools for conducting effective crypto-crime investigations. Drawing from real-world cases, sessions delved into basic methods for tracing criminal transactions across diverse blockchain networks.

Participants also exchanged good practices and gained insight into specialized analytics software and open-source tools pertinent to the field. These tools would enable the ability to trace transactions conducted on different blockchains, review the risks of certain addresses and exposure to criminal funds, or detect clusters of different transactions, to name some examples.

"In the ever-changing landscape of financial technology, it is crucial for Armenia to strengthen its domestic law enforcement capabilities, particularly in the realm of investigating and tracing virtual assets," stated Kurban Babayev, Economic Adviser at OCEEA. "The OSCE remains committed to aiding Armenia in its endeavours to tackle money laundering, especially in the sphere of virtual assets and cryptocurrencies," he added.

The training is part of an OSCE-led extra-budgetary project on "Innovative policy solutions to mitigate money-laundering risks of virtual assets", funded by Germany, Italy, Poland, Romania, the United Kingdom and the United States. The project supports OSCE participating States in building national capacities to mitigate criminal risks related to virtual assets and cryptocurrencies.