Bitcoin and Organized Crime

[Nnedaddy1]

The anonymous  structure of bitcoin  is the more reason why criminals  prefer it to fiat currency in recent times.

It is a known fact that there is no measures to link a notion currency to the offline address of its owners.
So even politicians now find it easy to launder funds using it.

Drug traffickers,  terrorism sponsors are not left out too.
I think, this is the more reason why some drastic measures should be put in place ,such as strict compliance to kyc/aml process  by cryptocurrency exchanges in order to mitigate the risk being posed by this.

[al maruf]

I think it's not a bitcoin's fault. Because there are two kinds of good people in society. Bitcoin can not be a criminal because of the fact that he liked Bitcoin as an offense. He loved Bitcoin for survival. Many criminal groups use gold as their means of exchange. So gold can not be dropped from the market. And now, dollars more than Bitcoin, gold is more like my opinion. That's why I think Bitcoin is not compatible with Bitcoin for organized crime.

[TravelMug]

This is just an isolated case. If organized crime are really wise guys then bitcoin is not the preferred coins because its completely traceable on blockchain.

And its still, guess what, the US Dollar is their top choice.

You can also read this news, https://news.bitcoin.com/illegal-activity-use-bitcoin-dea-agent/

[MainIbem]

These are media rhetorics to further disway the mind of investors in bitcoin and cryptocurrency. As has been noted by several comments above, organize crime has been funded through all known currencies - dollar, pound, yen, etc. So why then has this bitcoin own has become spectacular?

[Kakmakr]

Ok, let's analyse this quickly. So, most methods of converting bitcoins to fiat, has to happen through regulated exchanges and these exchanges use strict KYC/AML regulations to identify the users behind the bitcoins.

You are definitely not going to convert loads of coins anonymously with P2P transactions, because this will be impracticable on the scale that organized crime is operating at.

The other thing is, all Bitcoin tx's are reflected on the Blockchain and they do not know what law enforcement use to track these coins. 

[samuel23]

Why should it? One accident doesn't prove anything, criminals have much more to do than keep an eye on the exchange rates and trade.

[audaciousbeing]

A French security official was arrested last week on charges of selling state secrets on the dark web and accepting bitcoin in return.

https://www.coindesk.com/french-officials-allege-intelligence-agent-sold-state-secrets-for-bitcoin/

The agent had been working with members of an organized crime group, as well as specialists in economics, according to the report.

Has bitcoin become the preferred payment method of organized crime groups?

This your question seems out of place as it breeds some level of ignorance (apologies). He was caught for selling state secret. Even without bitcoin, he would still be selling it. Since time immemorial countries have been spying on each other while they have dirty agents all over the place working against the country they swore allegiance to get to an end. It may not necessarily be for money, it could be for favor, undue influence, coercion etc.

Bring bitcoin to the matter, its more of propaganda than being effective as they are trying to send a message that those who are doing so, we are coming for you and we should take the positive from the situation that eventually those who use bitcoin for dark transactions would no longer feel comfortable doing so.

[Janation]

If I am a smart or intelligent criminal, why would I continue to use Bitcoin or use Bitcoin transaction to pay if I know there are a lot of criminals out there being caught using Bitcoin. That just proves that Bitcoin is not entirely anonymous.

And that will ne the same for a lot of other crminals or maybe "organized crime". There are reports these crimnals being caught and that is enough prrof not to use it.

[Brama Jasa]

maybe it could happen to be used for crime, but what I think is that if bitcoin is used in a crime, it will certainly be discovered because now it's using the Kyc system

true, cryptocurrency has developed if it transacts a lot in the exchange place, now the exchange place using KYC, as you said that we can find the perpetrator's transaction, and ask everyone not to try to deteriorate bitcoin especially for you crypto players, you get money from crypto and you make your income place worse in the eyes of people in the world, people like this that will make Crypto destroyed

[thesmallgod]

Many criminal are looking for more secure and anonymous way to make transaction without being detected and that the reason why they use cryptocurrency but above the criminal still got apprehended. You know no matter how good something created is, some will still make terrible thing out of it. beside when crypto being related with crime, it make me wonder that is the only currency criminl use to perpetuate evil act. other currencies are also guilty of being used for criminal activities depending on which perspective you are looking at it

[syaripudin]

bitcoin is not a means to commit bitcoin crime is created purely as a means to conduct transaction and investment activities digitally, but there are some parties that use bitcoin as a means of crime even in carrying out criminal activities many methods can be done other than using bitcoin as a means.

[kiemponxs]

not only is bitcoin that can be used for crime, but fiat money is also widely used as a crime tool, so don't worry too much about the negative side of bitcoin, it's better to see the positive side because it's far more profitable than the negative side.

[ErvingStephen]

In the event that bitcoin can be utilized as installment for more wrongdoings in return for unquestionably popularity,acceptability and stability,i figure more installments should be made.

[Ains_sama]

because bitcoin is anonymous, so it becomes an alternative payment about crime, so that the owner does not see it, besides that bitcoin can be done for payment quickly without any verification of large numbers of IDs or others. this is the choice of criminals to make their crime faster and instant. because all that is needed can be obtained easily through bitcoin. including purchasing important country information ..

[tweetbit]

Has bitcoin become the preferred payment method of organized crime groups?

In an online transaction like dark web bitcoin is more conveniently, more appealing to lawbreaker to use and the promise of anonymity that is totally untrue except those who literally knows how.

Cash still the preferred payment that doesn’t leave any trail or documentation, not like cryptocurrency that is well logged. This is just pure propaganda from those been affected by its existence.

[darkangel020716]

A French security official was arrested last week on charges of selling state secrets on the dark web and accepting bitcoin in return.

https://www.coindesk.com/french-officials-allege-intelligence-agent-sold-state-secrets-for-bitcoin/

The agent had been working with members of an organized crime group, as well as specialists in economics, according to the report.

Has bitcoin become the preferred payment method of organized crime groups?

Obviously yes, you read your own posted link right? Meaning by means of bitcoin, bad people can hide their identity to create/make a crime. But unfortunately he got caught and arrested. Bitcoin is not to be a tool of creating a crime but people do it and only used bitcoin to their evil job.

[bakermaker123]

Has bitcoin become the preferred payment method of organized crime groups?

This is certainly true because the anonymity of transaction when using bitcoin makes them aggressive in doing this kind of things.  That's mainly the reason why they prefer this payment method because they can easily avoid the law.

[londawzen]

My opinion is that we should not be so negative in the form of bitcoin. Because now there is a cold KYC. Which is mandatory for everyone. It will protect us

[rickyNmorty]

...Has bitcoin become the preferred payment method of organized crime groups?

Nope. The U.S. dollar still reigns supreme as the currency of choice for organized crime.

Thisis true, I do not remember the site but I read some facts saying that it is realy the dollar. Some groups felt difficulty in using cryptocurrency that is why they prefer using fiat, such as dollar. And we all know that in fiat currency, dollar has the highest value so far.

[btcdevil]

Seeing the report one thing is sure that CRIME NEVER PAYS, What ever and how ever smartly you do crime but you will be caught. This is not only through Bitcoin but even with fiat currency and precious metals are also done but still cryptocurrency is getting more highlight due to its Negative popularity in society.

What ever the media tell but one thing is sure that this type of news are giving more popularity to cryptocurrency.