Experts point out important breakthroughs of the Hanoi Convention

Directly participating in the discussion sessions at the Hanoi Convention Opening Ceremony and Summit on October 25-26, Mr. Jarek Jakubcek - Director of Global Law Enforcement Training at Binance, said that the Convention has outlined a specific framework for action to prevent transnational cybercrime. The event also showed Vietnam's important contributions in the context of this field being complicated.

Breakthroughs in the Hanoi Convention

Jarek Jakubcek is a veteran of the cryptocurrency industry and a veteran of Binance’s law enforcement efforts. In 2024, he and over 650 compliance professionals from across Binance’s various fields trained over 1,300 investigators from over 80 countries at the Binance Law Enforcement Day.

At the Signing Ceremony and High-Level Conference of the United Nations Convention against Cybercrime (Hanoi Convention) on October 25-26, Binance representatives participated in contributing ideas, sharing experiences and discussing on both days.

“The Hanoi Convention against Cybercrime marks a historic milestone for the global cybersecurity community, both in scale and importance. The event was professionally organized, demonstrating the dedication and warmth of Vietnamese culture. Side discussions focused on practical aspects such as law enforcement coordination, cross-border cooperation, asset recovery and public-private partnerships. These discussions clearly demonstrated the shift from theory to concrete action. This was an important breakthrough of the event,” said Mr. Jarek Jakubcek.

Mr. Jarek Jakubcek discussed with representatives of the United Nations Office on Drugs and Crime (UNODC) and the Criminal Investigation Department, Royal Thai Police, the impact of the Hanoi Convention on tracing and investigating cryptocurrency crimes. (Photo: PV/Vietnam+)

According to Binance experts, the Hanoi Convention is not just a political statement but a concrete framework for faster and more effective cross-border investigations. Previously, sharing digital evidence across borders was a major 'barrier' to justice when cybercrime was cross-border in nature.

An important and timely breakthrough of the convention is the unified regulation of specialized and basic terms of cybercrime in the field of digital currency. This helps to remove legal ambiguities in legal documents, clearly defining types of digital assets and virtual assets in the definition of property. "It can be said that the Hanoi Convention is like a 'steel shield' to help prevent cybercrime in the emerging and complex field of cryptocurrencies," Mr. Jarek Jakubcek shared.

International experience and lessons for Vietnam

According to Mr. Jarek Jakubcek, the Hanoi Convention on Cybercrime marks a historic milestone for the global cybersecurity community. Vietnam has demonstrated an exemplary and proactive role in promoting the Hanoi Convention, demonstrating strong diplomatic leadership and substantial commitment.

However, in the short term, major changes may not be seen. The convention will enter into force 90 days after 40 countries have ratified it. It is expected that by the end of 2026 or 2027, the convention will officially enter into force and begin to have an impact.

The impact may not be immediately apparent to the public as the process for reporting cybercrime remains the same. The greater benefit will be felt in tackling cross-border crime between law enforcement and judicial agencies.

According to Binance experts, the next step in the fight against cross-border crime is for Vietnam to accelerate the ratification of the convention while ensuring resources for effective implementation. Vietnam is on the right track in strengthening international and regional cooperation.

“Like many other countries, resources for cybercrime investigations are limited, so it is important to allocate them appropriately to prioritize high-impact cases. In my experience, Vietnamese law enforcement can work closely with the private sector, leverage available data to effectively address criminal activities, and invest heavily in tools and training to improve the skills of investigators,” said Jarek Jakubcek.

Mr. Jarek Jakubcek - Binance's Global Director of Law Enforcement Training, shares his experience in combating cryptocurrency crimes at the Hanoi Convention Opening Ceremony and Summit, October 25-26, in Hanoi, Vietnam. (Photo: PV/Vietnam+)

At the Hanoi Convention Opening Ceremony and Summit, representatives from Thailand's Central Investigation Bureau (CIB) shared their experiences in Operation "Skyfall" targeting transnational criminal networks using cryptocurrencies to move and conceal illicit funds.

During the operation, Binance’s investigation team worked closely with the Thai police, providing intelligence to help uncover the money trail, shortening the time it took to identify suspects and recover assets. As a result, the operation resulted in 28 arrest warrants and the seizure of more than 46 million baht (equivalent to 37 billion VND). Skyfall’s success has become the clearest evidence of the power of public-private partnerships that Vietnam can refer to.

"Preventing crime is always easier than investigating. Vietnam should continue to promote prevention and community education programs. Prevention is the most effective approach. Disseminating knowledge and warnings to more than 100 million people and the rapidly growing digital economy will help Vietnam reduce response costs and significantly limit risks to the economy," Mr. Jarek Jakubcek shared./.

(Vietnam+)

Source: https://www.vietnamplus.vn/chuyen-gia-chi-ra-dot-pha-quan-trong-cua-cong-uoc-ha-noi-post1073334.vnp