EU Security Experts Teach Ukraine Police to Intercept Crypto Criminals
The security experts in Europe are conducting training sessions for Police officials in Ukraine to tackle crypto crimes. The police force of the war-trodden nation has been dealing with increasing reports of rise of virtual asset criminal activities in the current situation.
The training sessions in this regard are organized by the European Union Advisory Mission or EUAM. The intelligence officers from the service have flown to Lviv with tools and knowledge on the matter of detecting crypto crimes.
To this effect, the investigators in training at the police department of Ukraine will learn important skills such as identifying transactions and better their investigation methods. At the same time, the Ukraine Bureau of Economic Security or BEB has issued details about increasing challenges in terms of the dealing with crypto-related scams and frauds.
The statistics issued by BEB has postulated that the nation has sustained an accumulated loss of $81 billion or 3 billion UAH in the form of tax violations during the last 10 years in the form of illegal activities taking place in the unregulated crypto trading forums.
Ukraine Lacks Crypto Regulatory Clarity
The regulators in Ukraine have faced issues in bringing regulatory clarity for the local crypto sector. At present the nation does not have a defined and effective regulatory infrastructure to streamline the crypto sector in the country.
At the same time, tax officials in the region struggle to make clear distinctions between tax violations and unlawful crypto trades based in virtual currencies and unregistered crypto trading forums. These remarks have been highlighted as part of the issues raised by BEB.
Based on the highlighted issues recently some of the major government units in Ukraine namely Security Services, National Police, Prosecutor office, and various other regulators have arranged a meeting.
The coalition on the issue discussed the availability of crypto information available on the open-sourced blockchain networks and such that it is going to assist the users in tracking crypto-related crimes and other types of fraudulent activities.
The senior advisor at EUAM has noted that tracking down and detecting crypto-related crimes is one of the most daunting and complex process and it requires constant upgrade of skills and resources.
The officials in Ukraine have decided that they are going to crack down on the crypto sector as per the latest statement issued by BEB Department. The statement views cryptocurrencies as the main issue for regulators and law enforcement agencies in the territory.
The statement also maintains that BEB must play a role in protecting the economic sanctity and fight against economic crimes emerging within the region. He maintained that by sharing knowledge and useful updates on the matter with international law-enforcement principles is going to aid the nation to deal with this matter.
On the other hand, police in Canada has decided to collaborate with Chainalysis. The Canadian officials intend to use the blockchain data resource provider as tracking service. To this effect, the officials have generated a data request on the blockchain protocol to invite the developers for working on storage systems that can be utilized for confiscating and tracking down illegal crypto activities.
