On 12 May, more than 70 participants — experts from around the world — gathered in Lviv. The international conference “Unbreakable Integrity in a Challenging World: Digital Compliance” brought together representatives of the private and public sectors, international experts and practitioners.

During the event, participants focused on issues such as the impact of the war on global compliance trends, digitalisation and emerging risks, public sector compliance in Ukraine, sanctions and export controls, as well as international regulatory developments.

Oksana Ihnatenko, Managing Director of the Center for Financial Integrity, took part in the conference as a speaker on the panel “Global Risks, Sanctions, Export Control, AML/CFT/CPF”.

Sanctions have significantly affected Russian supply chains; however, instead of bringing them to a halt, they have led to restructuring through intermediary jurisdictions. At the same time, crypto-assets, particularly stablecoins, are increasingly used for international settlements outside the traditional banking system.

An alternative “shadow crypto economy” is emerging, in which off-chain intermediaries, primarily OTC brokers, play a key role by facilitating exchanges, transfers, and the movement of funds outside formal compliance procedures.

Participants highlighted the importance of strengthening intelligence gathering on off-chain intermediaries, developing public–private partnerships, applying network sanctions against entire ecosystems, integrating export controls with financial sanctions, and enhancing international coordination. They also emphasised the need to improve the tracing of links between crypto transactions and real individuals.

Sanctions policy must evolve as rapidly as the mechanisms designed to circumvent it; otherwise, Russia-linked crypto networks will continue to undermine its effectiveness.

The Center for Financial Integrity thanks the event organisers — Kyivstar, Kyivstar.Tech and Liga Zakon — for the invitation to participate in this important discussion.