US Trains Ukrainian Law Enforcement to Pursue Russian Crypto Assets
In a bid to target financial networks used by sanctioned Russian oligarchs, the US is training Ukrainian law enforcement on cryptocurrency investigations. Specifically, the Internal Revenue Service’s criminal-investigation division is providing advanced, in-person training on cryptocurrency investigations in Frankfurt.
Russian oligarchs have leveraged the digital asset industry to circumvent sanctions imposed on them by governments in recent years. Cryptocurrencies provide an easy way for them to move money across borders without detection. This has caused alarm in Western democracies, with governments seeking ways to curb illicit activities and choke off funding for sanctioned entities.
The US's decision to train Ukrainian law enforcement officers on cryptocurrency investigations highlights the need for international cooperation in fighting financial crime. Cryptocurrencies have no boundaries, making it challenging for any single entity or government to tackle these problems alone. By sharing knowledge and resources, law enforcement agencies worldwide can work together to identify and prosecute bad actors in the crypto space.