Banking fraud, crypto currencies and financial disruption in focus of OSCE-UNODC regional training course for financial intelligence agency representatives

CHISINAU, 21 December 2016 – A three-day advanced training course on challenges to combat banking fraud and financial disruption, and greater understand the role of crypto currencies, concluded today in Chisinau for representatives of financial intelligence agencies in charge of combating money laundering from Central Asia, Moldova, Ukraine and Western Balkans. The course was organized by the Office of the Co-ordinator of OSCE Economic and Environmental Activities (OCEEA) and the UN Office on Drugs and Crime (UNODC).

The specialized training course aimed at enhancing the technical skills of participants in investigating financial crimes, banking fraud and money laundering with the involvement of crypto currencies.

The participants discussed early detection and the prevention of serious fraud in the financial sector, the main elements of criminal business and the methods for eliminating illegal financial flows.

“The OSCE has made combating money laundering one of its highest priorities,” said Andrei Muntean, Senior Economic Adviser at the Office of the Co-ordinator of OSCE Economic and Environmental Activities (OCEEA). “This interactive training course will contribute to strengthening the participants’ capacity to detect and prevent illegal financial activities, including fraud and laundering proceeds of criminal origin.”

Oleksii Feshchenko, Head of the UNODC’s Global Programme against Money-Laundering, Proceeds of Crime and the Financing of Terrorism, said: “The volume of crypto currency transactions is growing, and it attracts both legitimate business and criminals. Our organizations are ready to train government agencies to investigate crypto currencies, like bitcoins.”

The training was funded by the United States Department of State.