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>“Britain for years has been trying to stamp out money being laundered through its banks and real estate, particularly from overseas. Financial crime lawyers sa
by curiousObject 3y ago
>“Britain for years has been trying to stamp out money being laundered through its banks and real estate, particularly from overseas. Financial crime lawyers say the tightening in rules and laws has made it harder for crime gangs to wash their money in traditional ways such as through shell companies or small businesses.”
>”Bitcoin also has proven to be problematic for criminals. Physical transportation, including hiring couriers for relatively small sums, has become an alternative.”
Ironic, about Bitcoin not being most effective for laundering criminal proceeds, the opposite of popular opinion.
Although I would suggest that Britain has been “trying” to stamp out money being laundered through its banks and real estate. Because many are loving the influx of cash into the property market, without a care where it’s coming from.
- foofie 3y ago> Ironic, about Bitcoin not being most effective for laundering criminal proceeds, the opposite of popular opinion. That assertion is made without any form of substantiation, and in context of a comically bad criminal operation that was unraveled because the ringleader wanted to rake in loyally points from booking all of his couriers' trips to fly for free. I don't think this level of thinking is compatible with the idea of understanding crypto currency transactions well enough to do them with the faintest level of security.
- hulitu 3y ago> That assertion is made without any form of substantiation Ransomware ?
- foofie 3y ago> Ransomware ? I have no idea. All I know is that a while back I read a report that estimated that the total volume of illicit trade using cryptocurrencies in 2022 was around $20B, and the volume dropped due to sanctions imposed on Russia and subsequent crackdown on crypto as a way to sidestep them.