Cryptocurrency | Bitcoin small risk in money laundering and high risk in Cybercrime


In a report by the British Ministry of Finance, a summary of the analysis shows a number of financial topics. The report revealed the views of the National Crime Agency (NCA), Regarding the use of Bitcoin in crime.

Apart from the bad views about Bitcoin. As revealed by the CEO of BlackRock, who stated that cryptocurrency is a money-laundering scheme.

"Bitcoin only shows how many requests for money laundering in the world, that's all, this is an index of money laundering."


In a report, the British finance department said that the risk of money laundering is relatively low. "The NCA has assessed the risks of using digital currencies to be used as a money-laundering device to be relatively low; although the NCA considers that digital currency is used for money laundering in small amounts in high volumes, there is little evidence used for money laundering in large amounts. "

The report also explained that money laundering did occur, but that the amount was low and there was little risk for the British crime agency.

Meanwhile, the report also explained that the use of Bitcoin for cybercrime activities was high. Cryptocurrency in Cybercrime activities is used to provide a simple way to make payments, facilitate the crime-as-a-service methodology; and provides methods for money laundering proceeds of crime.

The report concludes that the application of cryptocurrency will provide great opportunities in criminal activity. Like a ransomware attack, BadRabbit is attacking Eastern Europe, which calls for a form of Bitcoin.


"This risk is expected to grow as digital currencies become an increasingly viable and popular method of payment. As the number of businesses that accept digital currency payments is growing, there is an increased risk of criminals using currencies to launder funds without the need to spend non-digital money, or 'fiat'. "

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Cryptocurrency | Bitcoin small risk in money laundering and high risk in Cybercrime Cryptocurrency | Bitcoin small risk in money laundering and high risk in Cybercrime Reviewed by sheffter on August 27, 2019 Rating: 5

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