Georgia Steps Up In Strengthening Fight Against Crypto Crimes

Coingapestaff
October 20, 2023
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According to reports, Twenty-seven Georgian supervisory and law enforcement representatives gathered for a training course organized from October 17 to October 20 in Tbilisi, Georgia. The course focused on strengthening skills in identifying and investigating cryptocurrency crimes and other financial frauds. The training course was organized 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).

The Office of the Co-ordinator of OSCE Economic and Environmental Activities is an organization that addresses security-related economic and environmental issues as a part of its comprehensive approach to security. On the other hand, the United Nations Office on Drugs and Crimes is an organization that fights against illicit drugs and international crimes. In addition to this, the UNODC is also responsible for implementing the United Nations-led program on terrorism.

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Vera Strobachova Enlightens Georgian Authorities

According to Vera Strobachova-Budway, the acting Senior Economic officer at OCEEA, Georgia is emerging as a vital partner and beneficiary for the training course as the dedication and interest portrayed by the country in these training courses is relatively high.

In addition to this, Vera added that this is the second training on the investigation of virtual assets for the Georgian authorities, and the OSCE will continue to jack up Georgia’s efforts to combat and eradicate illicit money laundering activities, particularly through virtual assets and cryptocurrencies.

The course encompasses advanced techniques and practical tools that aid government officials in investigating financial crimes committed via Virtual Assets. The tools include advanced tracing of criminal transactions on different blockchains and case studies while also providing familiarization with specialized analytics software.

Also read: Ripple Executives Garlinghouse & Larsen Comment On SEC Surrender

More About The Initiative

Some of the key investors in the project include the United States, the United Kingdom, Germany, Romania, and Poland.

The training course is a sub-division of an OSCE-led extra-budgetary project on “Innovative Policy Solutions to mitigate money-laundering risks of virtual assets.”

The main motive behind setting up a project like this is to underpin the governments of Georgia, Moldova, and Ukraine in enhancing national authorities’ capabilities to alleviate criminal risks revolving around virtual assets and crypto scams. Moreover, the course also empowers them with analytical software to trace virtual assets through various blockchains.

Also read: Breaking: SEC Wins Default Ruling Against Thor Technologies for $2.6M Fraud

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.