The State Financial Monitoring Service of Ukraine told how they track suspicious transactions with cryptocurrencies

The State Financial Monitoring Service of Ukraine monitors the turnover of virtual assets using special software and other sources, said the head of the State Financial Monitoring Service Igor Cherkassky in an interview with Obozrevatel .

According to him, the department also receives information about suspicious transactions with digital currencies, which may be associated with money laundering or terrorist financing, from law enforcement agencies, foreign financial intelligence units, as well as providers of cryptocurrency-related services, including exchanges and exchangers.

The latter are subjects of primary financial monitoring and are obliged to inform about their suspicions, Cherkassky added.

“To date, we have handed over to law enforcement agencies nine materials with suspicion of money laundering using virtual assets. And this is just the beginning, ”he said.

The head of the State Financial Monitoring Service also said that Ukraine has become “one of the world pioneers who have extended anti-legalization legislation to activities related to the circulation of virtual assets.” 

“But without a framework profile law, such regulation cannot be complete. Although everyone should understand that there are certainly tools for the work of financial intelligence, ”he added.

Recall that in the beginning of last year wo b schalos that clarify the origins cryptocurrency citizens of Ukraine will charge SCFM.

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