Bitcoin … the new paradise for money laundering
Pierluigi Paganini
2012-11-19
http://securityaffairs.co/wordpress/10404/security/bitcoin-the-new-paradise-for-money-laundering.html...
According several studies and reports of law enforcement and secret agencies money laundering using digital currencies such as Bitcoin is a possible emerging threat, despite there is little information on this phenomenon and lack of knowledge of virtual currencies and their dynamics.
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The anonymity of transactions and their instantaneity are crucial prerogatives of digital currencies such as Bitcoin, its community is growing in the time attracting also an increasing number of legitimate companies that accept payments with virtual money.
The popularity of Bitcoins is largely increasing with the widely of underground community and with the spread of anonymizing networks such as Tor, the members of these “virtual worlds” accepted to adopt virtual currency to stay far from any king[sic] of control performed by law enforcement.
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The figures must induce serious reflections on the use of digital currencies, they are becoming more attractive to criminal groups that exploring new channels to money laundering. Despite the volume of transaction is not really concerning Law enforcement, FBI first, are worried by the diffusion of the Bitcoin network that could be used by groups of criminals for financial illicit activities..
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This article made the Wall Street Journal's 'Corruption Currents' list.
("A roundup of corruption-related news from Dow Jones and other sources. ")
http://blogs.wsj.com/corruption-currents/2012/11/19/high-tide-from-how-bonny-island-bribes-were-wired-to-a-new-world-cup-bid-inquiry/Is Bitcoin really the “new” money-laundering paradise? (Security Co)
