• Wednesday, September 04,2024

International training course on combating digital currency crimes wraps up

The international training course organized by the Ministry of Interior, in collaboration with Rabdan Academy, concluded today. This course, which involved cooperation with several international organizations and institutions, focused on crimes related to digital currencies, including associated offenses such as money laundering, tax evasion, and the financing of terrorism.
Over the course of three days, experts from police forces, financial organizations, and private sector institutions participated in comprehensive discussions. These deliberations centered on various aspects of digital currencies, exploring their origins, the circumstances surrounding their development and use, and the financial analysis required to address the challenges they pose. On the first day, lectures titled "Understanding Digital Currencies" delved into the history, formation, and evolution of digital currencies. Discussions covered blockchain technologies, the workings of both traditional and modern financial analysis systems, and the growing significance of digital currencies in the global economy. The second day's sessions focused on crimes involving cryptocurrencies, particularly those linked to terrorism. Topics included methods and techniques for evidence collection, asset recovery, and financial analysis. Participants were also presented with a case study on the "dark web," a special presentation by Elliptical, and a working paper from the US Treasury Department on cryptocurrency crimes and their ties to tax evasion and money laundering.
Additionally, MasterCard presented a case study highlighting the challenges faced by financial crime investigators. The final day was dedicated to practical exercises. Students engaged in hypothetical scenarios involving crimes facilitated by encryption, where they worked in groups to develop investigation plans.
These plans outlined where to obtain critical information, identified relevant agencies and departments, and anticipated potential obstacles with strategies to overcome them. The exercise also included hands-on training with cryptoanalysis tools, allowing students to rotate between different tools to gain practical experience.