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Building Capacity for Combatting Illicit Uses of Cryptocurrency

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It is reported that in the recent training course held in Tbilisi, Georgia, 20 law enforcement and government representatives strengthened their skills in iden…

Building Capacity for Combatting Illicit Uses of Cryptocurrency

It is reported that in the recent training course held in Tbilisi, Georgia, 20 law enforcement and government representatives strengthened their skills in identifying and investigating the illegal use of cryptocurrency and other virtual assets. The course was organized by the OSCE Coordinator of Economic and Environmental Activities (OCEEA) with the support of the United Nations Office on Drugs and Crime (UNODC).

Georgian authorities strengthen their skills to deal with cryptocurrency risks by participating in training courses

Interpretation of the news:


The rapid growth of cryptocurrency has presented law enforcement and government officials with new challenges in identifying and combating illicit activities. However, the recent training course held in Tbilisi, Georgia, has demonstrated a proactive approach to building capacity in this area. Twenty participants from law enforcement and government agencies refined their skills in detecting and investigating the illegal use of cryptocurrency and other virtual assets.

The course was organized by the OSCE Coordinator of Economic and Environmental Activities (OCEEA) with the backing of the United Nations Office on Drugs and Crime (UNODC). Their cooperation suggests a recognition of the global nature of the issue and the need for a multilateral approach to solve it. By sharing knowledge and experiences, the participants have acquired a cross-border understanding that can help them tackle the complex and evolving world of cryptocurrency.

The training course can be considered a vital step to mitigate the risks associated with the increasing popularity of cryptocurrency. While the technology was initially intended to provide secure, decentralized, and independent financial transactions, its anonymity and lack of regulation have attracted the attention of criminals seeking to exploit its potential. The course, therefore, aimed to equip law enforcement and government officials with the skills to investigate these illicit activities and bring perpetrators to justice.

Moreover, the training also included seminars on digital forensics and blockchain analysis, which are necessary to investigate cryptocurrency transactions. Such approaches rely on extracting data and analyzing encryption algorithms, and are vital in building cases against criminals who use cryptocurrency to facilitate money laundering, fraud, or trafficking.

In conclusion, the course organized by OSCE Coordinator of Economic and Environmental Activities (OCEEA) with the support of the United Nations Office on Drugs and Crime (UNODC) represents a promising approach to combatting the illegal use of cryptocurrencies. Law enforcement and government officials require robust training and cooperation from international organizations to address the challenges posed by the evolution of virtual assets. Their collaboration and the lessons learned in Tbilisi, Georgia, demonstrate that building capacity is a critical step in securing the integrity of financial systems and preventing these illicit activities from damaging economies and societies.

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