Money Laundering using Bitcoin

Criminals readily exploit the fast-moving pace of technological advancement with financial transactions, using new payment methods such as cryptocurrencies, rapidly gaining acceptance worldwide. This ICAR training programme focuses on providing participants with an understanding of the technology of cryptocurrencies, and the legislation in place to regulate their use. It explains the manner in which criminals may use cryptocurrency to launder the proceeds of crime. Through the use of an extensive hands-on practical exercise, the participants conduct a country-specific simulated investigation, which focuses on Bitcoin as a payment method.

In recent years, financial payments have experienced an unprecedented wave of technological innovations with the development of new electronic payment methods. Cryptocurrencies, including Bitcoin, have the potential to make it easier for criminals to hide the source of their proceeds and move their funds across borders without detection.

The training programme involves the participants in a practical case scenario that is customised to their local environment, and provides them with the tools and understanding necessary to detect, counter and investigate criminal usage of cryptocurrencies. It teaches them to investigate corruption where such currencies are used to transfer funds and launder the proceeds by way of Bitcoin, and to trace Bitcoin transactions with the use of publicly available online tools. They learn about the peculiarities and challenges associated with the seizure and confiscation of such currency.

We recommend that the Financial Investigations and Asset Recovery programme be taken first as it lays the basis for the other programmes. On request, Mutual Legal Assistance (MLA) training can also be integrated into the Bitcoin training programme. During such training, participants analyse and discuss best practices for MLA in respect of various jurisdictions through an interactive workshop.

In order to receive a Certificate of Completion and benefit from the interactive group work, participants are required to attend for the full duration of the workshop.

  • Target Audience: Investigators, prosecutors, FIU representatives
  • Number of participants: 25 to 35
  • Duration: 2 days
  • Location: On-side
  • Programme language: English

The costs of our on-site training programmes include fees and trainer expenses, and are negotiated on a case-by-case basis in close cooperation with the partner country or funding institution, which has requested our training services. For more information, please contact us at: + 41 61 205 55 11 or info@baselgovernance.org