‘Crypto’ anti-money laundering efforts need to incorporate tradfi tools

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The post Crypto’ anti-money laundering efforts need to incorporate tradfi tools appeared first on CoinGeek.

‘Crypto’ has helped money launderers wash nearly $100 billion worth of the illicit proceeds of crime since 2019, according to a new Chainalysis report.

These funds were sent to “conversion services,” aka centralized digital asset exchanges, decentralized finance (DeFi) services, gambling sites, coin mixers, and cross-chain bridges.

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Article Details

Author / Journalist: Steven Stradbrooke

Category: Crypto

Markets: CanadaChinaNorth KoreaNigerUkraine

Topics: Tether Know Your Customer United States DeFi Decentralized finance Chainalysis Business Privacy coins Monero Treasury Office of Foreign Assets Control Crypto Crime Cartel Coin mixing Anti-Money Laundering Zcash Stablecoins Tradfi

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-15 @ 11:00:28 (2 days ago)

News Timezone: GMT +8:00

News Source URL: coingeek.com

Language: English

Article Length: 1254 words

Reading Time: 7 minutes read

Sentences: 45 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGeek

News ID: 21627527

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Main Topics: Crypto

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