Illicit cryptocurrency transaction activity reaches all-time high in value, all-time low in share of all cryptocurrency activity
Cryptocurrency-based crime hit a new all-time high in 2021, with illicit addresses receiving US$14 billion over the course of the year, up from US$7.8 billion in 2020 according to blockchain analysis firm Chainalysis. Evidence suggests that cryptocurrencies have been and will be used in trade-based…
Virtual currencies increasingly feeding TBML operations says DEA
Drug traffickers and money launderers are increasingly incorporating virtual currency into trade-based money laundering (TBML) activity as the use of these currencies becomes more widely adopted according to the US Drug Enforcement Administration (DEA). The administration’s recently published National Drug Threat Assessment 2020 says reporting…
TCOs “highly favour” TBML operations to manipulate financial institutions and international trade
Transnational Criminal Organisations (TCOs) continue to highly favour trade-based money laundering (TBML) operations to transport and launder illicit proceeds through the manipulation of international trade and financial institutions according to the US Drug Enforcement Administration’s (DEA’s) recently published National Drug Threat Assessment 2020. It says…
