Luxembourg

Latin American practitioners join forces against evolving financial crime

Cryptoassets are transforming the work of investigators, prosecutors and asset recovery specialists across Latin America. At a dedicated workshop in Luxembourg, more than 30 practitioners came together to share how they are responding to the challenge – with practical solutions, strong regional leadership and a readiness to learn from one another. The workshop was co-organised by the Basel Institute on Governance and the UK National Crime Agency NCA . It was hosted by Luxembourg’s Bureau de gestion des avoirs as a side event to the 10th Global Conference on Criminal Finances and Cryptoassets. Participants came from prosecution services, police forces, financial intelligence units, supervisory authorities and the judiciary. As members of the Latin America Crypto Community of Practice, they share a determination to confront the rapid growth of cryptoassets and their exploitation by organised crime. Regional leadership in action The workshop placed the region’s own expertise at its centre. Practitioners from Argentina, Brazil, Colombia and Peru presented cases involving cryptoassets and asset recovery. They shared the approaches they had tested, the obstacles they had encountered and the lessons they had learned. The discussions reflected the tremendous effort taking place across Latin America. Practitioners are tackling complex technical, legal and operational questions, often while the risks, technologies and criminal methods continue to evolve. Maria Cordeiro, Senior Specialist, Asset Recovery at the Basel Institute and coordinator of the Latin America Crypto Community of Practice, said: The commitment and creativity of practitioners across Latin America are remarkable. They are not waiting for perfect laws, unlimited resources or ready-made solutions. They are getting to grips with difficult cases, testing practical approaches and helping one another move forward. That passion and leadership are exactly what this community is designed to support. Working through shared challenges Participants worked together on practical challenges related to the seizure, confiscation, custody, management and sale of cryptoassets. The discussions were frank and focused on finding workable solutions. Held in Spanish and under the Chatham House rule, the workshop provided a trusted space in which practitioners could speak openly and learn from their peers. The group also explored ways to strengthen cooperation against organised crime, illicit trafficking and other threats involving cryptoassets. These crimes operate across borders, making strong professional relationships and rapid information exchange essential. The workshop was opened by Oscar Solórzano, Director for Latin America at the Basel Institute’s International Centre for Asset Recovery. Perla, a subject matter expert from the UK National Crime Agency NCA , co-moderated the session. Partnerships and looking forward We thank the NCA for co-organising the workshop under its Illicit Finance programme in Latin America and the Luxembourg Bureau de gestion des avoirs for hosting it so generously. We are also grateful to the NCA, the US Bureau of International Narcotics and Law Enforcement Affairs INL in Colombia, Ecuador, Mexico and Peru, and the International Criminal Investigative Training Assistance Program ICITAP in Colombia for funding the participation of practitioners in the workshop and the Global Conference. We also thank current sponsors of our Latin America Crypto Community of Practice for their support for this practitioner-led exchange: Kodex, Asset Reality, Tradias, VerifyVASP, Inca Digital, Coinbase, TRM Labs and CAT Labs. The workshop showed the value of bringing committed practitioners together around real cases and shared challenges. Discussions are already underway about a dedicated Latin America Crypto & Asset Recovery Conference in 2027.

African expertise takes centre stage at crypto and asset recovery workshop

Around 40 public-sector practitioners gathered in Luxembourg on 17 September 2026 for the Africa Crypto & Asset Recovery Workshop. The event put African experience, innovation and talent at the heart of discussions on cryptoasset investigations and asset recovery. Held as a side event to the 10th Global Conference on Criminal Finances and Cryptoassets, the workshop brought together specialists from financial intelligence units, law enforcement agencies, prosecution authorities, regulators and asset recovery bodies. Participants represented more than 15 African countries. The Basel Institute on Governance co-organised the workshop with the SecFin Africa. It was hosted by Luxembourg’s Bureau de gestion des avoirs. Learning from African experience The workshop was designed around peer learning. Practitioners from Cameroon, the Democratic Republic of the Congo, Kenya, Namibia, Nigeria, Sierra Leone and South Africa presented real cases to their regional peers. They spoke openly about the obstacles they had encountered and the practical approaches they had developed to overcome them. The workshop took place under the Chatham House rule. Participation was restricted to public-sector officials to provide a safe space for candid discussion, questions and learning. This practitioner-led approach is central to the Africa Crypto & Asset Recovery Network. The Network recognises that valuable expertise and creative solutions already exist across the continent. Its role is to help practitioners share this knowledge, learn from one another and build trusted relationships across institutions and borders. As H.E. Ambassador Mary Chirwa, Ambassador of Zambia to the Benelux countries, said in her closing remarks at the main conference: I can speak for Africa: it may not have the same resources as other regions, but it has large, young and technologically astute populations – quick to embrace new technologies, question established approaches and find imaginative solutions. Practical tools and international cooperation The workshop also introduced practical tools that can support investigations and asset recovery. - Alexandru Donciu, Virtual Assets Specialist at the Basel Institute, demonstrated free and open-source tools for conducting on-chain investigations. - A representative of the French Gendarmerie and France’s Agency for the Management and Recovery of Seized and Confiscated Assets AGRASC presented ASAC. The application guides magistrates and investigators through procedures for tracing, seizing and confiscating criminal assets. - A Europol representative illuminated the work and approach of the European Financial and Economic Crime Centre and its collaborations with global law enforcement partners. The contributions from international partners highlighted the importance of connecting strong regional networks across continents. Cryptoassets move globally and effective investigations depend on cooperation that does the same. Connections that last beyond Luxembourg Many of the participants also attended the main Global Conference on 15–16 September. This gave the large African delegation opportunities to exchange experience with hundreds of peers from law enforcement, policymaking, research and the private sector. These face-to-face connections matter. They build the trust that makes it easier to pick up the phone when an urgent cross-border case arises. Our sincere thanks go to SecFin Africa and to the workshop’s co-moderators, Philippe Pacaud, Operational Coordinator at SecFin Africa, and Simon Marsh, Head of Africa at the Basel Institute’s International Centre for Asset Recovery. SecFin Africa is funded by the European Union, France and Germany. We also gratefully acknowledge the organisations supporting the Africa Crypto & Asset Recovery Network: Kodex, Asset Reality, Tradias, VerifyVASP, Coinbase, TRM Labs, CAT Labs and iSanctuary. Their support helps make this public-sector community and its activities possible while preserving a trusted and product-free space for practitioner exchange. The enthusiasm in Luxembourg also raised an exciting possibility: a dedicated Africa Crypto & Asset Recovery Conference in 2027. Watch this space.

New tools and partnerships strengthen the response to criminal use of cryptoassets

Criminal use of cryptoassets is spreading across the threat landscape as these technologies become more accessible and integrated into global financial systems. But this pressure is also accelerating innovation and collaboration among those fighting back – across law enforcement, industry, research and policy. The strength of that combined response was on show at the 10th Global Conference on Criminal Finances and Cryptoassets on 15–16 September 2026. Co-organised by Europol, United Nations Office on Drugs and Crime UNODC and the Basel Institute on Governance and hosted this year by Luxembourg’s Bureau de gestion des avoirs BGA , the conference brought 450 specialists from nearly 90 jurisdictions to the European Convention Center Luxembourg. More than 2,000 people registered online. Iker Lekuona, Director of the Basel Institute’s International Centre for Asset Recovery and co-chair of the conference’s first day, said: We are proud to help bring together such an impressive community of experienced and emerging experts from the public and private sectors, representing so many countries and backgrounds. The energy was palpable. It will help spread and scale the effective tools and approaches shared here, and drive progress on common standards and innovative models of law enforcement and public-private cooperation. Innovation on show Cases presented at the conference illustrated how cryptoassets now feature in cyber attacks, sanctions evasion, terrorist financing, sabotage and political interference. Other sessions exposed the human cost of scams, trafficking and “wrench attacks”, in which criminals use violence to force cryptoasset transfers. Yet the sessions also showcased new ways in which authorities and their partners are responding. The hybrid conference – with the second day reserved for public authorities – showcased: - Advanced tools and techniques for identifying, tracing and seizing illicit cryptoassets, and for dismantling the criminal and money laundering networks behind them. - Cross-border cooperation that is enabling authorities to identify, freeze and secure cryptoassets before they can be moved beyond reach. - New public-private partnerships for sharing operational intelligence on active cases, as well as strategic intelligence on emerging threats and indicators that can help others detect similar activity. - New legal powers, procedures and technologies for securing and managing seized cryptoassets and preserving their value through to final recovery and return to victims or the state. Several of these advances can benefit cases that do not involve cryptoassets. Network analysis, faster intelligence-sharing and closer coordination between investigators, prosecutors and asset recovery specialists can strengthen wider financial investigations and asset recovery efforts. Collaboration builds trust The conference also marked an important step in efforts to develop common baseline standards for blockchain intelligence. A technical breakout brought together representatives of blockchain analytics providers, law enforcement agencies and research organisations. Participants explored how common terminology, data formats and analytical approaches could make blockchain intelligence more consistent and interoperable. This matters because investigators, prosecutors, financial institutions, crypto exchanges, regulators and supervisors increasingly rely on the information these tools produce. Clearer standards can support more consistent customer due diligence and more reliable investigative leads. They can also help ensure that evidence can be explained, challenged and tested in court. A separate breakout led by the Wolfsberg Group examined common problems in suspicious transaction reporting involving cryptoassets. Financial institutions, cryptoasset service providers and public authorities discussed how to make reports more consistent, efficient and useful to investigators. The sessions demonstrated that collaboration goes beyond individual cases. It also means building shared standards and systems that can strengthen broader efforts against crimes involving crypto. On the subject of trust and collaboration, H.E. Ambassador Mary Chirwa of Zambia, added in her closing remarks: Virtual participation greatly expands access, but meeting in person remains essential to building trust. When an urgent cross-border case arises, it helps enormously if the person receiving the call is someone you have already met. Progress, but no room for complacency Significant blind spots remain. Criminal methods continue to evolve fast, regulation and enforcement remain uneven, and many authorities still lack the skills, tools or legal powers they need. But the cases presented on the conference stage and the solutions explored in its breakout rooms showed that authorities and their partners are already adapting their tools and working methods. The priority now is to scale what works: expand trusted regional and international networks, agree common standards, invest in practical capacity building and make effective models of public-private cooperation easier to replicate. About the conference The 10th Global Conference on Criminal Finances and Cryptoassets took place on 15–16 September 2026 at the European Convention Center Luxembourg and online. Three side events on 17 September deepened the practical discussions: - A hybrid Cryptoasset Management Roundtable, co-organised by Luxembourg’s BGA and the Basel Institute, brought together specialist asset management and recovery professionals to share insights and co-develop guidance on the effective management and liquidation of cryptoassets. - A workshop for African public-sector authorities saw more than 40 practitioners from 18 African countries exchanging cases, typologies and practical approaches with their peers. The workshop was a collaboration of the Basel Institute-led Africa Crypto & Asset Recovery Network and the SecFin Africa project, co-financed by the European Union. - A parallel Latin America Crypto & Asset Recovery Workshop, co-organised by the Basel Institute and the UK National Crime Agency under its Illicit Finance project, provided a similar space for around 30 practitioners from 10 countries across Latin America. Learn more - Learn more about the conference at: baselgovernance.org/10crc. - View selected recordings from the conference on the 10 Global Conference YouTube playlist. Photos: Neumann Jérôme Photography.

Save the date: 10th Global Conference on Criminal Finances and Cryptoassets

The fight against criminal misuse of cryptoassets enters its next chapter. Join us on 15–16 September 2026 for the 10th Global Conference on Criminal Finances and Cryptoassets – held this year in Luxembourg at the European Convention Centre and online. This landmark edition will be hosted by Luxembourg’s Bureau de gestion des avoirs BGA , alongside the Basel Institute on Governance, Europol and UNODC as co-organisers. Renowned as a leading global forum, the conference brings together practitioners from across sectors and regions to tackle the evolving threats posed by criminal exploitation of cryptoassets and related services. Expect cutting-edge insights, candid exchanges and practical solutions aimed at safeguarding individuals, businesses and the integrity of financial systems worldwide. Day 1 – 15 September: Open to experts from all sectors, with a strong focus on public–private collaboration, emerging risks and real-world practice. Day 2 – 16 September: Reserved for public authorities, including law enforcement, prosecutors, financial intelligence units, asset management offices and regulators, with in-depth case studies and operational insights. Learn more See more information on the official 10th Global Conference event page. Sign up to the conference mailing list to be notified when registration opens. If you would like to submit a proposal to present, moderate a panel discussion or lead a breakout session, please use this form.

Smarter use of confiscated assets would multiply their impact

Within days of Russia’s illegal invasion of Ukraine, Western governments imposed unprecedented economic sanctions against the Russian state and certain Russian oligarchs. They are now working to identify and freeze assets linked to sanctioned individuals and entities – a magnificent challenge in itself. Expectations are already skyrocketing as regards the potential of confiscating these assets, and politicians make strong statements about how they should ultimately be used. This has put a political spotlight on a debate that has long been on the agenda of asset recovery discussions: how should recovered assets be utilised? This is not only a legal but at least as much a political issue, because international treaties are not specific in this regard. The public are often cynical when faced with claims of recovered assets which are allocated to the general budget with little or no oversight. Sometimes, the speculation is that the same recovered assets have been diverted for the benefit of individuals rather than the collective good. Recognising this risk and the public expectation, countries that return or receive recovered assets have tried various schemes over the years to safeguard and maximise their use. None of these discussions has been plain sailing, also because each case of asset repatriation is very different – legally, technically and politically. In countries that we support through our International Centre for Asset Recovery, there have been some really interesting and innovative initiatives to utilise assets: For pandemic-struck hospitals In Kenya, as pandemic-related pressure mounted on the country’s health system, the Office of the Director of Public Prosecutions and the Ethics and Anti-Corruption Commission handed over 20 billion Kenyan shillings approximately USD 18 million at the time to the Ministry of Health to equip the countries’ hospitals with equipment. Formally handed over at a ceremony to which the media were invited, the money came directly from confiscated proceeds of corruption. So in this case, the recovered assets were not only put to good use in the fight against Covid-19. The action also helped to demonstrate how corruption hurts citizens, and in turn how recovering stolen assets can benefit citizens – and to right a wrong of which Kenyan citizens have been the victims. For student bursaries The Kenyan example triggered a great deal of interest in the region in how recovered proceeds of corruption could be tangibly and visibly utilised. Next, in February 2022, the Zambia Anti-Corruption Commission publicly handed over USD 57,000 USD and 65.3 million kwacha approximately USD 3.6 million of recovered funds to the Ministry of Education. Both the Minister and the President committed to utilising these funds for bursaries to enable under-privileged students to complete university education. Here, too, citizens who are the primary victims of corruption are the ones to feel the direct benefit of asset recovery. To strengthen criminal justice institutions Internationally recovered proceeds of corruption have been used in similarly positive ways. An interesting example comes from Peru, which in 2020 signed a tripartite agreement with Switzerland and Luxembourg in relation to around USD 26 million in repatriated assets that had been stolen through corruption under the regime of former President Fujimori. Under this agreement, these assets are now being used to strengthen the country’s criminal justice and asset recovery institutions. Peru’s proposal to use the funds in this way goes straight to the core of the problem – corruption – and will help multiply the impact of the returned funds. The agreement also contains provisions that will ensure transparency and accountability in the use of the funds. For intensive care units and Covid-19 relief Another interesting example is the asset-sharing agreement signed in March 2022 between Kenya and the Bailiwick of Jersey to repatriate GBP 3 million to Kenya. This was the culmination of a multi-year investigation and prosecution which led to the confiscation of funds from a Jersey-registered company, Windward Trading. It was the Windward Trading case that had originally triggered the development of the Framework for the Recovery of Funds from Crime and Corruption in Kenya FRACCK , which was signed by the Governments of Kenya, Jersey, Switzerland and the UK in 2018. The purpose of the agreement is to streamline the repatriation of funds to Kenya and to ensure that they will be utilised in line with national development priorities. The agreement also provides for the monitoring and evaluation of the use of returned funds. In this first utilisation, under the Kenya–Jersey agreement, the recovered assets are to be used to acquire medical equipment for intensive care units and to assist families adversely affected by the pandemic. Similar to the Covid-19 use of domestically repatriated funds, citizens will be able to experience the direct impact of successful anti-corruption enforcement. Considering the causes, consequences and victims of corruption There are other examples where recovered assets have been used in innovative and interesting ways, and more in the pipeline. What these examples all have in common is that careful consideration was given to either the root cause of corruption Peru or to the harm caused by corruption and their victims Kenya, Zambia . The international cases Peru and Kenya have also benefited greatly for a collaborative attitude of both requesting and requested states. The recovery of stolen assets is of course about the money. But just as much it is about what we sometimes refer to as the “soft assets”. Namely, that citizens benefit from the enforcement action and the original negative impact of corruption is at least somewhat countered. In time, the rule of law, trust in government and effective public services are restored. The above examples provide some food for thought for countries grappling with the question of how best to employ recovered proceeds of corruption and other crimes. The answers they come up with may be different, but what’s important is that all sides – including citizens – get the clear sense that something good came out of the bad.

Cryptoasset management roundtable – side event to the 10th Global Conference

A roundtable for asset management and recovery professionals to share practical insights on the challenges and solutions of managing and recovering cryptoassets Seized cryptoassets present unique challenges for asset management and recovery. This roundtable will bring together public-sector practitioners and invited experts to share practical approaches to securely managing, safeguarding and disposing of cryptoassets, while ensuring transparency, evidential integrity and regulatory compliance. Discussions will cover key issues such as custody models, storage strategies, value management, disposal approaches and the role of private-sector service providers. This is a side event to the 10th Global Conference on Criminal Finances and Cryptoassets. It is co-organised by the Basel Institute on Governance and Luxembourg’s Bureau de gestion des avoirs BGA . Details Date: 17 September 2026 Time: 09:00–13:30 CET Location: European Convention Center Luxembourg Participants: Asset management and asset recovery professionals registration and approval required

10th Global Conference on Criminal Finances and Cryptoassets

The Global Conference on Criminal Finances and Cryptoassets is a leading annual event focused on the criminal misuse of cryptoassets and related services. The 10th edition took place on 15–16 September 2026 in Luxembourg and online. The conference brings together practitioners from across sectors and regions. Participants come to share experiences, learn from each other and strengthen responses to fast-evolving risks in the crypto and wider digital finance space. The 2026 year’s event was co-organised by the Basel Institute on Governance, Europol and UNODC and hosted by Luxembourg’s Bureau de gestion des avoirs BGA . The programme combines presentations, panel discussions and hands-on breakouts. It focuses on real cases, emerging criminal methods, policy and regulation, plus practical tools for investigation and asset recovery. Day 1 15 September - Day 1 is open to participants from all sectors. This includes law enforcement, prosecutors, regulators, financial institutions, crypto-asset service providers, technology firms and civil society. - This day facilitates open and practical exchange between public authorities and the private sector. - In-person breakout sessions explored how to improve suspicious transaction reporting involving cryptoassets, and the development of open blockchain intelligence standards. Day 2 16 September - Day 2 is reserved for public authorities only. This includes law enforcement agencies, prosecutors, financial intelligence units, asset management offices and regulators. - Sessions focus on operational case studies and lessons learned, in a closed and trusted setting. - A breakout for regulators and supervisors was held for in-person participants. Now in its 10th edition, the conference remains an important global meeting point for professionals working to protect individuals, businesses and the integrity of financial systems from crypto-related crime. Key details - Dates: 15–16 September 2026 - Times: 09:00–17:00 CEST each day - Location: European Convention Center, Luxembourg - Format: Hybrid in person and online Acknowledgements Several public-sector speakers and participants were funded thanks to the private-sector fee. The SecFin Africa project, co-financed by the European Union, funded the participation of more than 20 practitioners from across Africa. The UK National Crime Agency funded the participation of several Latin American law enforcement practitioners under its Illicit Finance project in the region.

The James Stone case: Peru’s fight to recover assets (The Academy Bulletin)

Navigating between non-conviction based confiscation and Mutual Legal Assistance (MLA)