The Bitcoin and other crypto-currencies are often pointed out because they would be conducive to illegal activities. A theory that seems to be confirmed by Europol, the officials claiming that billions of dollars are laundered each year through virtual currencies.
An increase in money laundering in Europe
Europol, that is to say, the European Police Office, comes out of the silence to accuse the crypto-currencies to be the cause of an increase in money laundering in Europe. In effect, the leaders speak of 3 to 4 billion euros of criminal origin, which would be laundered each year. The director of Europol, Rob Wainwright, commented on CNBC, recalling : “This phenomenon grew rapidly, and we are worried. These assets are not linked to banks, and they are not managed by a central authority. Therefore, the police can not monitor these transactions. And even if it did identify a criminal, it would not have any way to freeze its assets, as it can be done in the framework of the conventional banking system. “
Pixabay – Maklay62 / money laundering is constantly on the rise, which is problematic.
The criminals would use, therefore, of the illegally obtained funds to purchase crypto-currencies. Then they would exchange again against fiat currencies, primarily euros. The process is particularly clever. The amount moving through the crypto-currency represents about 4% of the money laundered on the mainland. What is important, and especially in the constant increase.
Numbers that are causing controversy
The numbers of Europol in surprise and some, like Simon Taylor, who recalls that there are 2 000 billion dollars are laundered in the world each year.
Europol affirms that the regulation of crypto-currencies could provide a market regulation. Thus, it would be possible to put an end to their use for money laundering. However, again, many are sceptical about the influence of a new regulatory framework. Because the exchange platforms are already regulated, and, unfortunately, some succeed in spite of everything to pass through the meshes of the net.
Pixabay – TypographyImages / exchange platforms in crypto-currency would facilitate money laundering.
Yet, in theory, it is possible to find the identity of the individuals who launder money on the platforms, especially when the money is transferred through the Bitcoin. This is slightly different with crypto-currencies anonymous as the Zcash or Monero. The crypto-currencies enable money laundering ? The opinions are very shared.
Source : Bitsonline