Money Laundering in the New Digital Currency Age

Drugs, prostitution, illegal gaming, fraud, extortion – where there’s money tied to a criminal activity, there’s a crook who wants to “clean” it or legitimize the money so it can be moved throughout the world’s financial system, no questions asked. Like many illegal activities, money laundering is undergoing a revolution of sorts. That’s because technology, from online casinos and social media websites to the introduction of digital currencies, is offering alternative pathways for criminals to launder illegal profits.

Money laundering is often a secondary process – preceded by an illegal activity, such as drug trafficking or an online scam. In some cases, money laundering may be used by terrorist organizations to threaten and/or carry out attacks based upon a philosophical agenda. A key element of the process is maintaining anonymity and avoiding transparency throughout the process. Where money launderers were once limited to physical currency, the advent of digital currency has compounded the complexity of the global fight against this activity.


One thought on “Money Laundering in the New Digital Currency Age

  1. we have to adopt new way of living with all our fantasies @Jobless Conner, and corruption embedded in our greedy leaders, people are trying new ways of surviving in this Digital era, or you would be eliminated from the ecosystem!


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s