Money Laundering started with banks not bitcoins.

[cetald]

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/

Bitcoin is subject to such accusations, because with its help money has become much easier to launder. Money laundering has become available to everyone.

[nahotachikwem]

Yes, Money Laundering started with banks not bitcoins because banks came into existence before bitcoin so the money laundering in bitcoin by criminals started with the banks. No more no less.

[kryptqnick]

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 absolutely agree with you, but 316 million is way beyond what banks are really capable of. Given the current low marketcap, there is a case in which a group of banks is accused of an attempt to launder more than the total crypto market capitalization! It sounds unbelievable, I know, but this is not some low quality news, the forbes wrote about it a while ago: https://www.forbes.com/sites/francescoppola/2018/09/30/the-banks-that-helped-danske-bank-estonia-launder-russian-money/. These people got caught, but how many more did everything successfully? Blockchain allows to view transactions and the community is very diversified with no key holders of bitcoin being around. Banks are watching others not to launder money but the problem is that nobody's watching banks and preventing such schemes.

[mahibul49]

actually if you want to do money laundering you can do with bank and bitcoin too.in this world corruption is a thing that we cant not stop.so if anyone use bitcoin for money laundering he can use it but bitcoin is decentralized and a technology.

[ibrayzorhaf]

in my opinion the bank feels threatened by the existence of bitcoin, which in this case bitcoin wins in terms of transaction costs which are cheaper than banks. and also faster, of course. they don't know to trick ways to fight bitcoin

[DAVETUN]

Bitcoin is a currency that seems to be competing with the banking sector/ fiat, reason why we have the ongoing war against BTC, this will keep happening for a while, until BTC become unstopable, Bitcoin is the answer to the cashless policy advocay, the world will be compel to accept it. Money Laundery has been ongoing for decades, before the existence of BTC.

[fianaindriati]

Yes, Money Laundering started with banks not bitcoins because banks came into existence before bitcoin so the money laundering in bitcoin by criminals started with the banks. No more no less.

if money laundering cannot be used in bitcoin because bitcoin is digital money, and it is not real. so we can't mess with bitcoin or fraud. because everything is set. but if money laundering is in the bank, it is undoubtedly true sometimes, because money in the bank is real and can be used by anyone.

[magneto]

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 think that money laundering, and other criminal activities, simply can't be attributed to the currency that it is conducted on.

It's almost like blaming the US dollar, because it facilitates criminal activities. Obviously, that's true, but in no way is it the currency's fault that this is happening. Money laundering will happen regardless of what payment processor or mechanism is in place, and that's just the truth.

Thus, it's not fair to attribute money laundering to bitcoin. In fact, there are so many stringent regulations now surrounding bitcoin exchanges etc., yet people still talk about bitcoin being an underworld currency for some reason. It's an image that the media has painted, and is simply not true.

[Cryptotissue]

Money laundering even started before banks came to existence. I get highly disappointed when the media and people spread false speculations about Bitcoin and what people are using it for. These things tagged to bitcoin already existed before the creation of the earth...

[bolbau]

the issue thrown by banks regarding money laundering and financing of terrorism is actually something that is irrelevant. all crime can occur anywhere, there is always a gap in the system to be misused. when they try to bring down bitcoin with the issue, banks should also know that their system has always been used as a crime. I think the crypto community and users are mature enough to deal with this, the difficult thing is the effort to provide new people with an understanding of crypto.

[sehoon]

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/

Of course, people who use bitcoin are not the people who pioneered money laundering. There is already money laundering way before 2009. And yes, there are bad people who actually use bitcoin. For example, the people at the dark web actually use this currency in order to gain money. Bad people use cryptocurrency does not mean cryptocurrency is bad. And by the way, this is not bitcoin vs banks. Banks and bitcoins are both important for us since bitcoin is not yet accepted by "all" of people. Cryptocurrency and fiat money are both different entities.

[Rooster101]

Before bitcoin and other cryptocurrencies come into existence, money laundering is already happening in some banks and this illegal activity are rampant in many part of the world. Fiat currencies are used in money laundering long before cryptocurrencies are created. The fiat is also used in ither illegal activities like drug trafficking, terrorism and others. When bitcoin was created and become popular, some people blame the coin for the rise of such illegal activities.

[DavidNiva]

Yes money laundry started with the banks and will ever be in the banking sector. Moreso, bitcoin just came in compared to ages that the banks have been into existence and have been in this laundry of a thing. I can say categorically that money laundering is only done in the banks and not in cryptocurrency. #istandwithcryptocurrency.

doing money laundering using bitcoin is one stupid way, because the movement of money in bitcoin can be detected easily by the authorities, using blockchain technology with a decentralized system, then the suspicious movement of money can be directly detected, so the reason for some countries is that bitcoin will become a means of washing the money is not true, so money laundering that occurs still uses conventional money through an international bank, which customer data cannot be known.

[verita1]

I think the Banks will place to Bitcoin and Cryptocurrencies in the eye of the hurricane. Because they know that Bitcoin has gained a lot of ground. But always the truth will come to light.

[MMS2017]

It is the criminal activities and this were happening before bitcoin so bitcoin is not the cause of money laundering i like to use crypto for payment of services many good promotions of many companies are possible through this market now you can use YouTube  and Facebook for advertising and you can pay in crypto now we have to collect more and more.

[snedyolo]

It is true money laundering started with banks not with Bitcoin,
We are already facing money laundering problem before Bitcoin started or before it was even created,
But Bitcoin made it a lot easier because of it's anonymity and word wide transactions.

[MainIbem]

It is a clear distraction for anyone to buy into the idea that bitcoin brought about money laundering. In the first instance, money laundering predates bitcoin. So, who was responsible for laundering when there was no bitcoin? Bitcoin is virtual money. It is recently that a few outlets accept bitcoin as payment for goods and services. That being the case, money still passes through channels to exchange to fiat which is used to financing terror or other things. Bitcoin is just a medium of transfer of money from one person to another.

[Ezenwanyi]

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.

[Cacingkemi]

Interestingly some of these articles,first I trusted BTC cause all transactions were open very clearly.While the bank is always closed even by the authorities and its very clear that there is something that is hidden from us,all banks are very rich from taxes every month the delivery and receipt of FIAT is detrimental to us while BTC does't cost more.Money laundering often occurs in banks cause of its strict hiding.

[Sexie]

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/

Before bitcoin, there are money first. From all these money , powerful people can do anything what they want.  So there , money laundering get all started from the banks. Bitcoin just can easily trace back through internet , of what  and where it came the origin of  every transactions.  This kind of propaganda is just  trying to put down the potential of bitcoin. But bitcoin and users are  strong enough for any negative impressions against it.