The IRS promised to sponsor the access of Ukrainian investigators to the Chainalysis Reactor tool, which can be used to identify suspicious transactions. Special classes for police officers will be held in face-to-face and virtual mode.
The initiative aims to identify financial and cryptocurrency transactions conducted by Russian businessmen to evade international sanctions.
“Sharing experience in the use of such tools will protect not only the U.S. financial system, but the entire global economy.
Plus, it will make information sharing more effective and strengthen cooperation between the U.S. and Ukraine,” assured Jim Lee, head of the IRS Criminal Investigations Division.
Chainalysis CEO Michael Gronager believes that cryptocurrencies can be used not only for donations to Ukraine, but also for extortion, money laundering and sanctions evasion.
That’s why it’s important for investigators to hone their skills in analyzing cryptocurrency transactions with specific tools.
The U.S. Department of Justice suspected that Russian and Iranian nationals may have illegally used Binance, a major cryptocurrency exchange, to avoid sanctions.
The office began to investigate the activities of the stock exchange. Last April, the U.S. Treasury Department imposed sanctions on the BitRiver mining company, accusing it of helping Russia monetize natural resources.