Money laundering via BTC

[marcbitcoins]

Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?

Money laundering thru Bitcoin currency investment was already happening in which many are already caught and this is the main reason on why some nations won't adapt this investment.This is also one of the reason on why regulation and KYC are created to ensure that Bitcoin cannot be use in illegal activities such as this money laundering activity, smuggling and scam projects that are using the Bitcoin platform too.

[thirdkiller]

I have not tried to launder dirty money through crypto currency, because I do not understand the process. I tried to penetrate for a long time, but it did not work out. But I think this is a very real process.

[Brenda Karenn]

Money laundering with Bitcoin is actually happening and because of that, many countries are hesitant to accept Bitcoin.
Yeah, I think the same as you. Criminals might have to suffer from the risk of Bitcoin high volatility, but compared to the riskiness of being caught, it's worth taking.

[Cynthia Andradee]

Crimes can convert anything of value, inluding illicit money, into Bitcoin by bartering or buying them. They can buy a large amount of Bitcoin, then transmit Bitcoins offshore and exchange Bitcoins for illegal goods and services like drugs.

[LuckyMan21]

Of course, this is possible and so do. But also bitcoin transactions can be tracked, now it becomes dangerous to do. So it's not worth it

[Susan Diass]

No one can track your transaction and personal information because your personal information isn't required, unlike the reverse situation with fiat money. So Bitcoin seems to be a perfect tool for money laundering.

[Scott Freemann]

Yes. That's how Bitcoin facilitates illegal activities. The risk of Bitcoin price fluctuation is worth taking because it's really beneficial to hide from authorities.

[Carrelmae10]

..definitely yes,,there is a possibility to do a laundering money.people are very smart to do some act that are not acceptable to the public..that is why,,many countries ban bitcoin because of this activities.they use bitcoin in order to hide some malicious act in a way that no one can track all their activities.. 

[acilona116]

I was thinking about something like that few days ago. Where is better to hold coins, in BTC or in other coin, like BNB (binance). Bitcoin, as we saw, went from 20k to 6k, I wouldn't like my money, just disappear.

[orions.belt19]

No one can track your transaction and personal information because your personal information isn't required, unlike the reverse situation with fiat money. So Bitcoin seems to be a perfect tool for money laundering.

What do you mean? There’s still KYC. Many other service providers or exchanges require you to provide identification. I don’t know where to make your transactions but I have been providing ID’s to my wallet service provider when I cash out. Also, transactions can actually be tracked. The reason why money laundering can be done thru BTC is because the authorities don’t look into it or track it regularly as compared to the use of fiat or banks.

[Ridwan Fauzi]

..definitely yes,,there is a possibility to do a laundering money.people are very smart to do some act that are not acceptable to the public..that is why,,many countries ban bitcoin because of this activities.they use bitcoin in order to hide some malicious act in a way that no one can track all their activities..  

Keep in mind, in some countries like in my country before having bitcoin you have to buy bitcoin through national banks who governed by the government.

Surely this is an easy way for the government to find money laundering cases. And another risk for someone who will do money laundering is the bitcoin price volatility.

I cannot imagine if they sacrificed their money to save money in bitcoin because it would suffer huge losses if the price decline drastically, this is always thought by the money launderer, unless he has a stupid mind.

[Snaic]

Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?

Bitcoin is quite possible to use for laundering dirty money and other financial irregularities. However, one must take into account that it is only relatively anonymous and with a great desire and corresponding capabilities of the special services, the bitcoin owner can be established. According to studies, bitcoin for illegal purposes is used from one to ten percent of cases. Criminals often use coins with a higher degree of anonymity - monero, SCash, Dash and others.
I just wonder why Russian special services used bitcoin as a payment for intervention in the election of US President Trump. Probably because of this they were uncovered.

[Derizo]

Bitcoin in all over world is mostly used for money laundering. People want to save money without paying texes so they transfer their wealth to other countries in the form of bitcoin. As there is no monitering on bitcoin so it is easy way of  transefer blackmoney. In some countries bitcoin is banned.

[Zohina]

Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?

in my opinion bitcoin a place for money laundering is very likely, but such cases can only be done to the perpetrators of the country whose financial system is not strict or the technology of the country is still left behind, but for a country whose financial system is very tight and the technology is very supportive may be very difficult to do,

[BitcoinGirl.Club]

Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?

The thing about bitcoin is the conversion of black money to white money is not straight forward as it may sound and AFAIK money laundering through crypto is not so easy as you will have to go through KYC with most of the available exchanges to get the asset you need if the money is too much, the risk of exposure is high when using crytpo unless its a small amount which is likely to bother nobody.

[smiledeveloper]

Hey, shamzblueworld

I'm agreed with you. I also think that it is very much possible to money laundering via Bitcoin. You know right now Bitcoin is legal most of the country. Other Countries like or Asian countries are not taking any steps through Supreme court. People from Asia easily can launder there money to black market.I believe that they don't need to face any hassle to laundering money from their countries.

[Zohina]

Of course it is possible to launder money via Bitcoin. Otherwise, Bitcoin cannot be considered the equivalent of a real currency, because the ability to launder money is a "feature" of every fiat currency. 

in fact money laundering is not only done with bitcoin but can be any way, but for the case of crypto currency may be much easier because the existing system is global is not affected by one of the countries, so the current era is indeed the criminals who use that way, but it may be difficult in a country where the financial system is very tight and very well integrated, such as japan and other developed countries.

[SaShiRaJaVu]

I'm agreed with you. I also think that it is very much possible to money laundering via Bitcoin. You know right now Bitcoin is legal most of the country. Other Countries like or Asian countries are not taking any steps through Supreme court. People from Asia easily can launder there money to black market.I believe that they don't need to face any hassle to laundering money from their countries.

If the regulations are set in place there is no way anyone could launder money, with strict regulation the hopes of acquiring huge amount of bitcoin without being traced is just a dream, there are many cases being under the scanner and many culprits are brought to justice in this short period of time, people who does these illegal activities will continue to do so as they will find a new way to launder the money without being traced and blockchain is not the way to go for these criminals.

[sergiom]

Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?

Yes, it is very much possible to launder money with bitcoin and I am sure there are already many cases of this happening. There are created a lot of sites and applications that use bitcoin for this.

[Mahanton]

Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?

Yes, it is very much possible to launder money with bitcoin and I am sure there are already many cases of this happening. There are created a lot of sites and applications that use bitcoin for this.

Back in the days where exchangers doesn't comply with KYC proceedings where big sums of money can still freely go in but now there is already a restriction into the amounts which if you do launder money on huge sums then identity information would be asked unless if you do Peer to Peer transactions with people do have BTC then its possible but if you do go into other services then it would be hard as of these days.