Money Laundering started with banks not bitcoins.

[worldofcoins]

The people in Banking industry have long associated Bitcoins with money laundering, from calling it a bubble to linking it to terrorists money they did everything in their power to destroy bitcoins. Today it's been proved that money laundering happens due to banks, was happening before bitcoins came. Deutsche Bank has been raided for money laundering, and it's pertinent to note bankers from this bank had said bitcoins is used for money laundering. It proves that fiat money is and always will be used for money laundering, it's time to stop the witch hunt against bitcoins. #ItrustBitcoinsoverBank.

Link: https://www.newsbtc.com/2018/11/29/bitcoin-is-criminal-money-says-the-media-while-deutsche-bank-gets-raided-for-laundering/

I did not think there was a need to prove that Bitcoin was not  the source of money laundering as it existed way before Bitcoin. There will be money laundering as long as there is a financial system.

[maydna]

The people in Banking industry have long associated Bitcoins with money laundering, from calling it a bubble to linking it to terrorists money they did everything in their power to destroy bitcoins. Today it's been proved that money laundering happens due to banks, was happening before bitcoins came. Deutsche Bank has been raided for money laundering, and it's pertinent to note bankers from this bank had said bitcoins is used for money laundering. It proves that fiat money is and always will be used for money laundering, it's time to stop the witch hunt against bitcoins. #ItrustBitcoinsoverBank.

Link: https://www.newsbtc.com/2018/11/29/bitcoin-is-criminal-money-says-the-media-while-deutsche-bank-gets-raided-for-laundering/

I did not think there was a need to prove that Bitcoin was not the source of money laundering as it existed way before Bitcoin. There will be money laundering as long as there is a financial system.

I think the money laundering will evolve from traditional way into digital way because from day by day, the technology grows and gives support too. But yes, money laundering started from the banks because the banks were the first financial system people used. We see and hear from many news about money laundering in many countries, and I guess that people who get involved in the money laundering will start to think about using bitcoin for another way to still doing money laundering

[deppil]

thank you for the information, in my opinion, money laundering always happens in every currency, fiat or digital.

and that's part of a big threat that can affect the value of a currency, and can also harm everyone.

until today we cannot make preventive actions, except just making regulations.

Yeah money laundering already existed before Bitcoin was born. so it's very wrong to mention laundering is due to the existence of bitcoin. but I also admit that bitcoin is very supportive of being used for money laundering. but what starts off is certainly not bitcoin

[princeyeboah]

I don't even know where and how that ideology came up that Bitcoin is used to launder money, involved in drug trafficking and terrorism funding - these are the claims of the governments and banks against Bitcoin. But the question is, were there no money laundering, drug trafficking and terrorism funding issues before the creation of Bitcoin?
Let's stay focus and keep promoting crypto, the governments have their own ulterior motive behind these claims.

[ityandsyn]

The people in Banking industry have long associated Bitcoins with money laundering, from calling it a bubble to linking it to terrorists money they did everything in their power to destroy bitcoins. Today it's been proved that money laundering happens due to banks, was happening before bitcoins came. Deutsche Bank has been raided for money laundering, and it's pertinent to note bankers from this bank had said bitcoins is used for money laundering. It proves that fiat money is and always will be used for money laundering, it's time to stop the witch hunt against bitcoins. #ItrustBitcoinsoverBank.

Link: https://www.newsbtc.com/2018/11/29/bitcoin-is-criminal-money-says-the-media-while-deutsche-bank-gets-raided-for-laundering/

       Terrorists are already exist long time ago before crypto currency was introduced and they always find a way to get their financial support and some of these are came from the bank , like this news pasting above .
        In some other cases that there are few banking institution are starting to accept crypto currency and wants to integrate to a traditional banking system , so it seems they absorb their own thought .

[kodtycoon]

I don't even know where and how that ideology came up that Bitcoin is used to launder money, involved in drug trafficking and terrorism funding - these are the claims of the governments and banks against Bitcoin. But the question is, were there no money laundering, drug trafficking and terrorism funding issues before the creation of Bitcoin?
Let's stay focus and keep promoting crypto, the governments have their own ulterior motive behind these claims.

Yes, even long before bitcoin there was a problem that had occurred in the bank and again nowadays many elite people like the government do not support bitcoin, then how can bitcoin be used for these activities which basically they don't even use bitcoin.

[South Park]

Yes money laundering started with banks but you would agree with me that Bitcoin or rather the era of Cryptocurrency took it to an alarming level due to the anonymous structure of blockchain.

Most of the money laundering around the world is going through banks and not through bitcoin so that is not true, if anything the only thing that bitcoin changed is that now what was a right of the powerful and the rich is now available to everyone thanks to bitcoin, at least now everyone is playing by the same rules instead of having a set of rules for the poor and another for the rich.

[thesmallgod]

It is very funny anytime I hear story about crypto being used for money laundering. The fact still remain that most people that are always involve in money laundering are people who looted and still from public treasury. Many of this people have little or no knowledge about crypto and even if they do, only few of them will want to exchange fiat for crypto in order to launder. In my country politician who stole from public funds engage in money laundering by bribing to financial companies that help them convey the money to other banks. some of them even disguide in order to hide their identity in case they are caught.

[thesmallgod]

Yes money laundering started with banks but you would agree with me that Bitcoin or rather the era of Cryptocurrency took it to an alarming level due to the anonymous structure of blockchain.

People that stole huge amount of money are always not to patient in getting their money to another country by exchange it to crypto. For instance in Africa where cases of public fund looting is very common, for all the detected and reported cases, how many time have you heard that they conceal the money by changing it to crypto. All of them are always through banks and some other financial institution where they are being convey to another country. When you hear anything related to anonymity in crypto, the first thing that will come to your mind is ability to access things that you do not have access to before and this is exactly reason why so much people believe that crypto can be use for money laundering despite the fact that there has been little reported case compare to money laundering through banks.

[tiptopgemdotcom]

in my opinion it is propaganda against bitcoin, we can see that banks feel threatened by the existence of bitcoin and spread negative issues against bitcoin, the banks do not dare to compete in a healthy manner. and also with crypto technology like blockchain can destroy banks,

It is kinda debatable to legalize crypto payments with matching incoming transactions vs the outgoing transactions. I hope governments will find their way to stop money laundering with traditional methods but the case is a bit different with cryprtocurrrncies. Crypto is the way of buying value like all other currencies. So no need to blame crypto community with weak arguments.

[mekie]

Money laundering is as old as taxes and crime. Why? because no one wants to pay tax, and if you are a crook you want to clean up your cash so  the authorities don't get hold of you.
The banks have been complicit in all manner of shady transactions so for them to slate Bitcoin for being used to launder money is frankly hilarious, but absolutely typical.   

[Ayiranorea]

Common public who doesn't have a proper knowledge about bitcoin easily accept the information that were spread around by the banking networks as well other financial institutions. It is easily understood that money laundering has been taking place long ago and just because bitcoin provides easy access it doesn't mean that bitcoin is the cause for money laundering.

[cryptone1]

Studies conducted by the Center for Sanctions and Illegal Financing of the Foundation for the Protection of Democratic States, which, after analyzing operations in Bitcoins conducted from 2013 to 2016, concluded that only 0.61% of trade operations during this period considered to be related to illegal activity.

[BuyBuyBitcoin]

This is one of our favorite subjects lately!

Criminal organizations that call themselves banks get to pay fines for their crimes!

The bank Trump and Hitler both use(d) was raided last week and has a ton of other criminal activity the last few years.

https://www.bestbitcoinbuyers.com/2018/11/29/hitler-and-trumps-bank-are-still-breaking-the-law/

The US Banks money laundering fines between Wells Fargo, JPMorgan, Citibank and Bank of America are billions the last decade.

https://www.bestbitcoinbuyers.com/2018/11/14/bitcoin-will-save-us-taxpayers-millions-wasted-investigating-and-regulating-the-banks-money-laundering-schemes/

[Marbelli]

I think that an equal amount of money is being washed from banks and Bitcoin as we all do it, people

[bitcoinfuck]

The people in Banking industry have long associated Bitcoins with money laundering, from calling it a bubble to linking it to terrorists money they did everything in their power to destroy bitcoins. Today it's been proved that money laundering happens due to banks, was happening before bitcoins came. Deutsche Bank has been raided for money laundering, and it's pertinent to note bankers from this bank had said bitcoins is used for money laundering. It proves that fiat money is and always will be used for money laundering, it's time to stop the witch hunt against bitcoins. #ItrustBitcoinsoverBank.

Link: https://www.newsbtc.com/2018/11/29/bitcoin-is-criminal-money-says-the-media-while-deutsche-bank-gets-raided-for-laundering/

yes don't forget banks the biggest player who makes money in this process

[andika2018]

Banks have a system in monetary system and i think its very easy for banks to laundry money. Bitcoin give transparant transaction in bitcoin ledger because anybody can see the transaction and no body can control the transaction data. I am believe its hard to laundering money with bitcoin or cryptocurrency because the transaction very transparant

[ansarose1]

I agree with this statement, however there are also possible for bitcoin online transactions to be use as money laundering or against the law, also sindicates can also use bitcoin as buying for illegal things. But most probable way for money laundering are within the banks.

[libert19]

Whatever is used as means of 'money', it's used to launder money. Bitcoin is new and misunderstood, so people like to take hit on it.

[blocklancer8]

yes it is true, before bitcoin there have been many crimes that have arisen. Bad people are to blame because the evil ones will always find a way to do the action. Even though the rules are made, security is doubled if bad people will find ways to do evil.