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How cybercriminals launder dirty crypto
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<blockquote data-quote="MuzzMelbourne" data-source="post: 1039841" data-attributes="member: 94561"><p>I totally agree, ZK.</p><p></p><p>I think Bryan's and my example was that, the problem exists at both ends of the 'dollar' spectrum as an indication of how difficult detection/prevention is for the industry and law enforcement.</p><p></p><p>For example, I don't know about where you are but, increasingly, crypto ATM's are popping up in some bizarre locations here and will issues fiat all day, every day, without regard of the crypto's origin.</p><p></p><p>Although this is primarily Bitcoin atm, other tokens will be added over time. I suspect USDT or Ether will be along soon.</p><p></p><p>If I were looking at dealing in illicit goods/substances at small to medium scale, payment via Blockchain tokens is becoming a valid option. While multi-national cartel's and bad exchanges are being busted in increasing numbers they are usually run by idiots who have to outsource the code etc. etc. and run around in Ferrari's. Like shooting fish in a barrel for the law.</p><p></p><p>But, I think, we all know the vast, vast majority of crypto nastiness goes undetected and its the very nature of the beast that will see an increasing use by scumbags.</p><p></p><p>And, add the basically borderless World economy we all operate in... blah, blah...</p></blockquote><p></p>
[QUOTE="MuzzMelbourne, post: 1039841, member: 94561"] I totally agree, ZK. I think Bryan's and my example was that, the problem exists at both ends of the 'dollar' spectrum as an indication of how difficult detection/prevention is for the industry and law enforcement. For example, I don't know about where you are but, increasingly, crypto ATM's are popping up in some bizarre locations here and will issues fiat all day, every day, without regard of the crypto's origin. Although this is primarily Bitcoin atm, other tokens will be added over time. I suspect USDT or Ether will be along soon. If I were looking at dealing in illicit goods/substances at small to medium scale, payment via Blockchain tokens is becoming a valid option. While multi-national cartel's and bad exchanges are being busted in increasing numbers they are usually run by idiots who have to outsource the code etc. etc. and run around in Ferrari's. Like shooting fish in a barrel for the law. But, I think, we all know the vast, vast majority of crypto nastiness goes undetected and its the very nature of the beast that will see an increasing use by scumbags. And, add the basically borderless World economy we all operate in... blah, blah... [/QUOTE]
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