CASH REMAINS KING FOR MONEY LAUNDERERS, ALTHOUGH USE OF CRYPTOCURRENCIES IS GROWING
March 1st, 2018
Despite the rise in alternatives, notably prepaid cards and cryptocurrencies, such as Bitcoin, cash remains the instrument of choice for the world’s money launderers, say anti-money laundering experts.
Indeed, they say that a July 2015 report from European police agency Europol ‘Why is cash still king?’ is still relevant. It highlighted that EUR1.5 billion in cash associated with crime had been detected and/or seized by law enforcers and regulators in the European Union (EU) annually on average in the first half of this decade. The report warned that cash ...
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