OSCE workshop in Baku strengthens capacity to counter money laundering with virtual assets
A two-day OSCE workshop in Baku, held on 24 and 25 September, brought together regulators, supervisory authorities, prosecutors, investigators, and other professionals to address money laundering risks linked to virtual assets and blockchain-based finance. The event aimed to strengthen Azerbaijan’s regulatory and enforcement capacities, while equipping participants with practical skills to respond to challenges in this rapidly evolving field.
The workshop combined introductory lectures with hands-on exercises. Participants opened and managed cryptocurrency wallets, traced simulated transactions, examined real case studies, and discussed legislative steps needed to strengthen regulation in Azerbaijan.
“Virtual assets and crypto currencies offer lots of benefits but they also can be used for criminal purposes that threaten the integrity of financial markets and the public interest,“ said Vera Strobachova-Budway, Head of the Economic Governance Unit at the OSCE Office of the Co-ordinator of Economic and Environmental Activities (OCEEA), in her opening remarks.
“What makes these risks particularly complex is that they are cross-cutting and borderless. No single country or institution can address them alone. So, gatherings like today’s workshop are critical: they allow us to share perspectives, align approaches and build trust,” highlighted Fergus Auld OBE, His Majesty’s Ambassador to the Republic of Azerbaijan.
OSCE experts introduced blockchain analytics tools, shared insights on emerging trends in virtual asset-related crime, and demonstrated how justice and regulatory institutions can better tackle these challenges.
The workshop concluded with a forward-looking discussion on Azerbaijan’s next steps in regulating virtual assets. Participants received OSCE certificates of completion.
The event was organized as part of the OSCE extrabudgetary project, “Innovative policy solutions to mitigate money-laundering risks of virtual assets”, implemented by the Office of the Co-ordinator of OSCE Economic and Environmental Activities. The project receives financial support from Germany, Italy, Poland, Romania, the United Kingdom and the United States.