United Nations Office on Drugs and Crime

Pakistan

4 November 4, 2023, Vienna – The United Nations Office on Drugs and Crime (UNODC) successfully organized a Workshop on Virtual Assets for Pakistan Counterterrorism Officials. The event, which took place at the Vienna International Center from October 30 to November 3, 2023, was funded by the US Embassy’s Bureau of International Narcotics and Law Enforcement Affairs (INL). The workshop was attended by a cross-section of 09 officials (1 female) from multiple Pakistani agencies, including the Financial Monitoring Unit (FMU), National Counter Terrorism Authority (NACTA), Ministry of Foreign Affairs (MOFA), Ministry of Interior (MOI), Federal Investigation Agency (FIA), and Anti-Terrorism Court.

The primary objective of this workshop was to empower key counterterrorism officials from Pakistan with the requisite knowledge and skills concerning virtual assets. This included understanding their role in countering financing terrorism, money laundering, and other illicit activities, as well as the regulatory frameworks and best practices for monitoring and controlling these digital financial tools. 

The five-day workshop was structured to offer a holistic view of the challenges and opportunities associated with virtual assets, particularly in the context of counterterrorism. The first day served as an introduction to the world of virtual assets. It covered the basics, including definitions, types, and the underlying technology, thereby setting the stage for more complex discussions in the days to follow.

Days two and three were focused on the international and national regulatory landscape. Participants were acquainted with existing laws, compliance requirements, and the role of regulatory bodies in monitoring the use of virtual assets. These sessions had discussions on identifying red flags and potential indicators of illicit use of virtual assets.

The fourth day was dedicated to hands-on training involving case studies and simulation exercises. This enabled the participants to apply their newfound knowledge in real-world scenarios. The final day wrapped up the workshop with a forward-looking discussion on emerging trends in virtual assets and their potential implications for law enforcement and regulatory bodies.

The workshop was a key milestone in ongoing efforts to counter terrorism and financial crimes in Pakistan. It also served as a forum for international collaboration, encouraging the exchange of best practices and expertise in the field of virtual assets.

During the closing ceremony UNODC representative expressed gratitude for the collaborative efforts and stated, "This workshop marks another milestone in our ongoing support to counter-terrorism departments in Pakistan. The complexities surrounding virtual assets necessitate specialized training and knowledge sharing. We are thankful for the invaluable financial support from INL, which enables us to equip these departments with the tools they need to navigate the challenges of the digital financial landscape."