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IRS Officials Training Ukraine Law Enforcers to Monitor Russian Crypto Transactions

An official report from the Internal Revenue Service’s (IRS) criminal investigation unit revealed that the officials started training Ukraine law enforcers on crypto-related investigations. The training will be useful in addressing unlawful crypto transactions conducted by Russian bad actors.

Previously the European authorities’ attempts to mitigate illicit crypto transactions failed to bear the desired results. The Ukraine law enforcers organized physical blockchain analysis training after multiple failed attempts.

Significance of IRS Training

The main facilitators for the training included IRS officials in collaboration with analysts from the famous blockchain analytics firm Chainanalysis. The event will run for a couple of days in Frankfurt, Germany.

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Based on the report, the main objective of the training was to assist in addressing violations of Russian sanctions. The increase in number of wrongdoing assosiated with Russian has compelled the Ukraine authority to partner with the US government.

Notably,  multiple groups from the Ukraine law enforcement unit actively participated in the May 11 training. It was reported that officials from Ukraine’s National Police, Security Service unit, Economic Security Bureau, and others from the Prosecutors General office were among the trainees.

Reportedly, the 20 law enforcers from Ukraine will be trained on strategies to monitor and analyze blockchain. Before the ongoing training, the IRS official conducted an online training for 50 law enforcers from Ukraine.

Strategies to Combat Violation of Russian Sanctions

In the April virtual training, the IRS team aimed to equip Ukrainians with skills to monitor susceptible crypto regulations. Also, the training enables law enforcers to make an informed decision to address Russian misconduct in the crypto sector.

After the training, the IRS, in partnership with the Chainalysis team, provided the trainees with licenses to access the crypto investigation tool developed by blockchain technology.

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Beyond offering advanced training, the IRS team has played a vital role in controlling and collecting government tax. The IRS team has also been at the forefront of addressing the violations of Russian sanctions.

In the meantime, the IRS team is handling over 23 charges associated with crypto sanctions involving Russian nationals.

Objective of IRS Training

Speaking at the event, the director of the Economic Security Bureau (ESB), Eduard Fedorov, protested against Russian war activities. He lamented that Russian unlawful activities exposed Ukraine to economic chaos.

After the Russian invasion of Ukraine, the European and the US policymakers observed that the bad players utilized crypto to violate the sanctions. The rise of non-compliant crypto transactions compelled Ukrainian lawmakers to make drastic moves.

A report from the head of the cyber unit at the Ukrainian National Police, Yurii Vykhodets, revealed the regulator’s priorities are on suspending crypto-related fundraising campaigns.

Colonel Vykhodets stated that the regulators would focus more on identifying illicit groups that utilize crypto to acquire equipment to support the ongoing war. He decried that in the recent day, most campaigns are conducted through crypto assets, which violates the imposed Russian sanction.

Responding to Colonel Vykhodet’s announcement, crypto analysts argued that digital assets have a higher illiquidity that fails to support sanction evasion and cannot sustain the buzzing Russian economy. The analyst remarks created heated debates among the policymakers.

Will IRS Training Address Russian Sanction Evasion?

Michael Gronager, the chief executive of Chainanalysis, confirmed that more than 100 Russian bad players have been seeking crypto donations. The Chainanalysis data indicated that in 2022 crypto assets worth over $5 million were sent to fund illicit Russian groups.

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In a previous report, the regulators imposed several sanctions to deter the use of crypto to support the Russian war. Last September, the US authority-imposed sanctions on the paramilitary group “Task Force Rusich” to address crypto crimes.

In 2022 the US members of Congress assigned roughly $80 million to support the IRS in increasing its personnel. The funds aimed at allowing the IRS team to hire new talents to expedite crypto investigation processes.

A review of a recent job opening revealed that the IRS-criminal unit has been seeking to recruit qualified staff in crypto asset investigations and cyber crimes. The IRS team has also worked closely with private companies to launch campaigns against cybercrime and crypto irregularities.


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Kimberly Crain

Kimberly Crain is a seasoned crypto trader and writer, offering valuable insights into the digital asset market. With expertise in trading strategies and a passion for blockchain technology, her concise and informative articles empower readers to navigate the evolving world of cryptocurrencies.

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