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Author Topic: Money laundering via BTC  (Read 27140 times)
Tapyaks72
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August 11, 2018, 11:40:44 AM
 #741

I think Bitcoin is the opposite of that because all Bitcoin transactions are transparent and everyone in the world can see the ongoing Bitcoin transactions.

People may not be able to connect certain individual identities to Bitcoin transactions directly, but if they find it, then they can see all the transactions you have done on the Bitcoin network. This is why Bitcoin is the wrong way if you use it for things that are not right like money laundering.
Crypto currency is quite different with fiat or physical money, bitcoin because bitcoin is digital in nature  that  can easily be trace in electronically means while fiat  money can be hoard in your own vault like what illegal drug traders so that they can't be traced they should not  transact money in bank to elude the law inforcer.

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August 11, 2018, 06:50:03 PM
 #742

Laundering money using bitcoin is the most freedom we are enjoying from crypto currency because it is not check by any government or controlled by their authority. It may sound very bad but this the freedom we are getting from investing in cryptocurrency using bitcoin.
You're grossly in error to think the governments are looking the other way or lacking in the mechanisms or structures to keep tabs and magnifying glasses on the Bitcoin market. On the surface, might not seem obvious, but when the need arises, tracing the person behind a transaction or an address is no longer the big deal it used to be.

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August 13, 2018, 05:39:15 PM
 #743

Of course you can.In General, there are many ways to launder black cash.Through its own banks, investment and charitable funds, government orders, etc.But laundering through the use bitcoin think the movers and shakers of the middle class.Large bigwigs launder money through the state directly))) through military companies in the first place.Or like the Italian mafia through the Vatican for example)))))

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August 14, 2018, 12:18:47 AM
 #744

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?

It is very likely that besides being very safe, bitcoin cannot be regulated by any country.

I think that such a choice is a very attractive choice for big criminals, in a country where the level of corruptors is very large. in interest, therefore there are still many countries that reject bitcoin to become a medium of exchange directly, in developing countries for example, it is solely to prevent corruptors from being able to save money from their crimes stored in bitcoin.
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August 14, 2018, 01:26:59 AM
 #745

I also think so (about money laundering) when some officials or entrepreneurs who want to commit bribes or crimes that violate other laws by sending their money in the form of crypto to their colleagues are anonymous and this is money laundering too

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August 14, 2018, 06:07:24 AM
 #746

I don't think I can do money laundering by buying bitcoin and after that sell it and your money will be white and clean, the bitcoin in your wallet can be easily tracked by anyone by looking at the wallet address, so it will be useless if doing money laundering using bitcoin, this is only a personal opinion

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August 14, 2018, 03:48:55 PM
 #747

actually, bitcoin can answer money laundering problems, we know that blockchain is a transparency technology, everything is recorded and cannot be deleted. but bitcoin is still a mystery because of the owner's anonymity. all of that can be overcome through KYC, whereas we know that people who hold bitcoin still need to be exchanged fiat and fiat certainly has transfer limits in every country. I think money laundering with bitcoin is an issue.

time2.coffee
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August 14, 2018, 07:26:30 PM
 #748

Bitcoin is many places is not considered a currency or money but is called a virtual service, so in some places, it's just considered as a commodity rather than as a currency. Of course I am sure governments will try to regulate and control if they see too much money is being drained from their country.
some of the governments already make efforts to put btc into law field. I wander how will situation maintain by the end of the year.
jenongs
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August 19, 2018, 05:50:34 PM
 #749

maybe with technological sophistication and also with the existence of bitcoin currencies because this is not related to legal legality so that it allows people to embezzle money so that it is not detected by the relevant legal entity. Grin Cheesy
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August 21, 2018, 09:23:43 AM
 #750

Bitcoin is many places is not considered a currency or money but is called a virtual service, so in some places, it's just considered as a commodity rather than as a currency. Of course I am sure governments will try to regulate and control if they see too much money is being drained from their country.
some of the governments already make efforts to put btc into law field. I wander how will situation maintain by the end of the year.

In Russia government just speaks about it, there are real actions, but they are insignificant. The State Duma once again moved the consideration of draft laws. There is no certainty in China. The Chinese government banned crypto at the end of 2017, but now they are thinking about legalizing cryptocurrency

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NavI_027
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August 21, 2018, 01:39:46 PM
 #751

Is it possible to do money laundering via bitcoin?
Yup! Sad to say, technological breakthrough are now used by evil ones to have a smoother and more efficient way of scamming people. Here is an example which recently happened in our country: http://cnnphilippines.com/news/2018/04/10/bitcoin-scam-pnp.html . We, good crypto investors, are just lucky since our government didn't pass a strict regulation or even a ban as a form of precaution after this happened. I hope this kind of things will not happen again because I'm really threatened 'til now Sad.

katerinaliisa
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August 23, 2018, 07:13:36 AM
 #752

The market of darknet is the main source of funds sent to conversion services for laundering. The number of illegal services that could become a source of "dirty bitcoins" increased fivefold between 2013 and 2016. Sources of illegal funds entering the conversion services are quite centralized.

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August 23, 2018, 09:41:50 AM
 #753

Third-party brokers help to simplify cross-border transactions without intermediaries. Outside the exchange millions of dollars are transferred in bitcoin across international borders as part of the capital export scheme.

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August 23, 2018, 09:53:23 AM
 #754

Specifically in bitcoin, on the contrary, less dirty money, because all transactions are recorded in a public book.

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August 23, 2018, 10:33:44 AM
 #755

Some virtual currencies, such as eCache, are completely anonymous. According to its operators, eCache does not associate a person with transactions; it acts as a digital media certificate (DBC), which can be transferred to the other party, like any other data on the Internet. There are other anonymous crypto-currencies. For bitcoin, there is Dark Wallet: a purse that helps the BTC become completely anonymous.

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August 24, 2018, 06:32:13 AM
 #756

this might happen, because bitcoin digital currency has the potential for money laundering, but we should not be too worried because in order to overcome it, PPATK has been established which monitors digital money transactions, one of them is bitcoin. In addition, PPATK is also drafting regulations to be able to oversee the use of digital currencies.

https://nasional.kompas.com/read/2017/12/19/19390561/ppatk-pantau-transaksi-bitcoin- because money-laun

Andrew S
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August 24, 2018, 07:34:39 AM
 #757

Can someone and conducts such operations, but for what purpose are the money brought in and we do not know, because everything is anonymous.
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August 25, 2018, 06:56:03 AM
 #758

As long as Government official didn't find the route it is possible but once they start finding the route it is impossible to do money laundering through Blockchain. We can easily trace the transaction for which ID and to which address he sent can be traced easily.
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August 26, 2018, 12:51:36 PM
 #759

If you take into account the fact that you never know who invested and withdrew, then to some extent you can conduct money laundering.
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August 26, 2018, 01:13:59 PM
 #760

Can someone and conducts such operations, but for what purpose are the money brought in and we do not know, because everything is anonymous.

Apparently many people forget that Bitcoin is only semi-anonymous. Of course, if a normal mortal looks into the blockexplorer, it won't be able to recognize much, but there are already companies that analyze the Bitcoin blockchain and they can already tell quite well how which Bitcoins are used for what. People who want to use Bitcoin for money laundering seem to forget that. Of course there are such cases, but i wouldn't use bitcoin for such things. Sooner or later the goverment will be able to retrace what the Bitcoins were used for.  Wink

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