Armenian Officials Trained on Crypto-Asset Investigations to Combat Crypto-Related Crimes
Armenian Officials Trained on Crypto Investigations to Combat Crypto-Related Crimes
A group of Armenian officials from various law enforcement agencies recently underwent training on crypto-asset investigations to enhance their capabilities in combating crypto-related crimes. The training, conducted by the Office of the Co-ordinator of OSCE Economic and Environmental Activities (OCEEA) in collaboration with the United Nations Office on Drugs and Crime (UNODC), took place in Yerevan from April 24 to 26.
The intensive three-day training brought together 27 representatives from different law enforcement agencies, who immersed themselves in learning fundamental techniques and practical tools essential for conducting effective investigations into crypto-crimes. The sessions included real-world case studies and covered basic methods for tracing criminal transactions across various blockchain networks.
Participants also had the opportunity to exchange good practices and gain insights into specialized analytics software and open-source tools relevant to the field. These tools enable investigators to trace transactions on different blockchains, assess risks associated with specific addresses, and identify clusters of various transactions, among other capabilities.
Kurban Babayev, economic adviser at OCEEA, emphasized the importance of strengthening Armenia’s domestic law enforcement capabilities in investigating and tracing virtual assets, especially in the rapidly evolving landscape of financial technology. The OSCE remains committed to supporting Armenia in its efforts to tackle money laundering, particularly in the realm of virtual assets and cryptocurrencies.
The training initiative is part of an OSCE-led project funded by several countries, including Germany, Italy, Poland, Romania, the United Kingdom, and the United States. The project aims to help OSCE participating states develop national capacities to mitigate criminal risks associated with virtual assets and cryptocurrencies.
This training program in Armenia is part of a broader trend where countries are investing in training their authorities on crypto forensics to combat the rising tide of crypto-related crimes. Last year, India provided training to officials from cybercrime and police departments on cryptocurrency forensics and investigation, aiming to equip law enforcement personnel with the necessary skills to tackle cryptocurrency-related crimes effectively.
As the use of cryptocurrencies continues to grow, law enforcement agencies around the world are recognizing the need for specialized training to effectively combat crypto-related crimes and ensure the security of financial systems. Initiatives like the one in Armenia are crucial steps towards building the necessary capabilities to address the challenges posed by the evolving landscape of virtual assets and cryptocurrencies.