Cryptocurrency laundered in 2022 surged by 67.6%

According to BanklessTimes.com, the amount of cryptocurrency laundered in 2022 surged by 67.6%.

“Crypto space is growing rapidly, and criminals are taking advantage of it. We must take steps to ensure that this type of illegal activity does not become commonplace.”

– say Jonathan Merry, the CEO of BanklessTimes

Money launderers are sophisticated and take advantage of the anonymity and lack of regulation in the crypto space. Often, they use a mix of traditional methods, such as shell companies and offshore accounts and crypto transactions to move large sums of money undetected.

The alarming increase in crypto laundering is not only a problem for the industry. It is a big challenge to governments and law enforcement agencies as well. The rise in dark crypto money undermines the efforts to combat financial crimes. Moreover, it hampers the ability of governments to track the flow of illegal funds.

The full story and statistics can be found here: Total Cryptocurrency Laundered in 2022 Recorded a 67.6% Jump

Source: itedgenews.africa

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