Metaverse investigations training launched by the EU Global Facility in the United Arab Emirates 🌍🔍
The EU Global Facility is thrilled to announce its first-ever introductory awareness course on the complex Metaverse universe,
Running through Thursday 27th, the immersive training is targeted at some 45 law enforcement and Financial Intelligence Units officers and prosecutors of the UAE.
“The Metaverse is a very complex new concept that sets itself apart from other online environments by its huge scale, complexity and level of interconnectivity,” says EU Global Facility Key Expert on Law Enforcement Liam Ennis
“The emergence of the Metaverse has brought new challenges in terms of AML/CFT risks. As virtual assets and digital currencies become more prevalent within the Metaverse, it becomes crucial to understand and address these risks to maintain the integrity of financial systems and combat illicit activities.”
Some of the ML/TF risks associated with the Metaverse include anonymity and pseudonymity, Virtual Assets laundering, cross-border transactions and lack of regulatory frameworks, among others.
Over the three-day training, experts of the EU Global Facility will delve into crucial aspects related to the Metaverse and Virtual Assets (VAs), with a primary focus on AML/CFT investigations. Participants will have the opportunity to explore topics such as the identification of illicit activity in VAs and the assessment of the effectiveness of current AML/CFT measures.
By the end of the training, attendees will gain valuable insights into the misuse potential of virtual assets and their associated risks, regulatory frameworks, industry standards, and strategies for detecting suspicious transactions.
- – Comprehend Metaverse, Virtual Assets, their misuse potential, and related money laundering and terrorist financing risks.
- – Understand the principles of AML/CFT investigations as they apply to virtual assets, including the regulatory framework and industry standards.
- – Identify key indicators of illicit activity in virtual assets and utilise analytical tools for detecting suspicious transactions.
- – Assess the effectiveness of current AML/CFT measures within the context of virtual assets and evaluate the need for additional regulatory actions.
- – Collaboratively devise strategies to enhance AML/CFT investigations and compliance within the virtual asset industry.