Money laundering is a global issue that affects both fiat currency and cryptocurrencies. To combat the financing of criminal activity, regulatory bodies have rushed to enact stringent anti-money laundering (AML) legislation to prevent money laundering via cryptocurrency exchanges and custodian services. This is a problem that is not going away!.
According to a 2022 report from the leading blockchain analytics company Chainalysis, criminals laundered $8.6 billion in cryptocurrency in 2021, a 30% increase over the previous year. The report says that “while billions of dollars worth of cryptocurrency are transferred annually from illicit addresses, the majority of it ends up at a surprisingly small number of services, many of which appear to be purpose-built for money laundering.” This figure will only rise in the future unless we do something about it.
It's important to understand the rules & regulations domestically and globally, but there is another avenue that we need to explore as staff working in financial institutions. How does the criminal mind operate? The more we know, the better equipped we will be to stop any potential problems. Also, how do law enforcement professionals investigate with the cooperation of financial institutions?
In the Crypto world, we have to be more prepared than others. During this webinar, we have three former law enforcement professionals that will join us and explain all the details.