December 11, 2023

The US Internal Revenue Service trains Ukrainian police officers to track illegal crypto transactions

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The US Internal Revenue Service trains Ukrainian police officers to track illegal crypto transactions

The Criminal Investigation Division of the Internal Revenue Service (IRS), together with international law enforcement officers, conducted training for Ukrainian police officers to teach them how to track illegal crypto transactions.

The IRS has joined forces with the Dutch Fiscal Information and Investigation Service (FIOD), as well as HM Revenue and Customs (HMRC), to help Ukrainian police officers more effectively fight cybercriminals.Analytical companies CipherTrace, BlockTrace, and Chainalysis joined the initiative, which spoke about the intricacies of tracking cryptocurrency transactions in blockchains.

The training seminars were held from 18 to 21 September with the participation of 40 employees of the Cyber Police Department of the National Police of Ukraine, the Bureau of Economic Security, the Security Service of Ukraine, the National Anti-Corruption Bureau and the National Bureau of Investigation.Tools for combating money laundering, analysis of suspicious transactions with cryptocurrencies, and the use of blockchains for forensic examinations were discussed. 

In May, Ukrainian law enforcement agencies already took part in a similar educational program, the results of which were recognized as successful.After training and passing the exam, the participants received a special certificate of completion of the training.

"It is useful for public institutions to cooperate with private companies at the international level.sanctions," said Jim Lee, head of the U.S. Internal Revenue Service's (IRS) Criminal Investigation Division.

In early August, the National Bank of Ukraine (NBU) requested financial statements for the first two quarters of 2023 from local cryptocurrency services.According to the Ukrainian authorities, cryptocurrency exchanges operating in the country have not paid taxes for $81 million since 2013.