Btc crime

[adzino]

So you are saying bitcoin is evil because they used bitcoin to launder money and commit crime and you want everyone to stop using bitcoin? Why don't you stop using fiat currency because most of the laundering is done through fiat currency. At least they got caught using crypto currencies. I bet it would have been even harder for them to trace the criminals if they used the standard (fiat) currency to launder and commit crimes.

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[Kakmakr]

So, just to be fair towards "Bitcoin" .....let's look at Banks!

"According to 2019 anti-money laundering statistics, 60.5% of the banks' fines were due to anti-money laundering regulations violations. Source : https://legaljobs.io/blog/money-laundering-statistics/

https://sanctionscanner.com/blog/the-five-biggest-money-laundering-scandals-317  <== 5 of the biggest money laundering scandals ever reported was linked to ===> Banks!

Money laundering needs "Money" or "Currency" .....what is Bitcoin and Crypto currencies.... well, it is a payment option and a currency in some countries. Criminals will use anything that has value.... to commit financial crimes.  

    HSBC – Fined $1.9bn.
    Wachovia Bank – Fined $160m.
    Standard Chartered Bank – Fined $1.1bn.
    Danske Bank – Fined $1.4bn.
    Bank of Credit and Commerce International – Liquidated.
    Commerzbank – Fined $50m.
    Westpac Bank – Fined AU$1.3bn.
    Goldman Sachs – $600m in profits.

[uneng]

A criminal using bitcoin as a means of laundering money does not make it a Bitcoin crime. Your title is wrong and misleading.
Criminals have always had means to clean stolen money long before bitcoin was envisioned.

This makes me wonder if crypto is easier to track than using fiat to move the funds around.

If they withdrew cash and transported it via car from France to Israel, they'd only really risk being found at the initial withdraw step (and if they can hide their identity well for that bit, they probably wouldn't be recognised the rest of the way) - the money could then be laundered by more tried and tested measures to ensure it looks like they acquired it a legit way.

Stories like this simply show us cryptocurrency isn't the perfect tool for criminals to deal with, different from what the media tell us. Thieves are constantly getting caught when using crypto for their schemes. Maybe that is because crypto is trackable like everything in this virtual universe, different from paper money which doesn't let any traces on most cases and require deep and long investigations until authorities discover the scheme.

The more criminals use cryptocurrency for their businesses, the easier it's going to be for the police to do their job.

[boris singer]

We must make the right words in this case because indeed if we look at the development of the existing case it is only a group of criminals who do money laundering through Crypto, especially bitcoin there, not a crime from bitcoin.
These are two different things because when they say bitcoin is a crime, the context here is bitcoin is evil but money laundering through Crypto, especially bitcoin, it can be said that bitcoin is an object used for their crimes, it doesn't mean bitcoin is a crime because bitcoin is only an object that is used with wrong by irresponsible people.

[hyudien]

Recently 3 suspects were arrested by Israel police for laundering money internationally through crypto. This money was stolen from France. This is a major international money-laundry.

Does this case generalize that Bitcoin is the culprit? of course wrong
Bitcoin was not created for that and there is absolutely no compelling reason for Bitcoin to commit crimes. What if cocaine and drugs were proof that the dealer was caught? is the item to blame? Not

Bitcoin is just a medium by which it is used, and each medium depends on its use. Have you heard that Ukraine accepts Bitcoin donations for humanity?

So Bitcoin can be incarnated with various useful and detrimental functions, depending on the user.

[Issa56]

Recently 3 suspects were arrested by Israel police for laundering money internationally through crypto. This money was stolen from France. This is a major international money-laundry.

I don't see anything special from the News, I think this will be a good news for people that are against cryptocurrency,  they will start saying that's why they are not in support of cryptocurrency, they will start making noise that cryptocurrency is used for illegal activities.
My question is can't stolen fiat currency be transferred internationally? Before bitcoin was created stolen money were been transferred internationally and uptill now stone fiat currency are been transferred internationally, but nobody is talking about that, I think they are just trying to tag cryptocurrency with illegal activities and trying to proof that fiat currency is pure.

[Jawhead999]

This is the bad side of Bitcoin, many criminals using it to do bad and illegal things which putting bitcoin's reputation in a harm's way and putting bad name all over internet. Nonetheless, we cannot really stop this because many people surely abuse the anonymity of bitcoin which is not really for it. Bitcoin has lots of good things and that's the good side of it, it can be a payment system and a storage value that will be better the gold in the future.

Bitcoin is pseudonymous not anonymous, most of people who doesn't have enough understanding are have higher chance his identity will exposed and the investigator will know who's him.

Although it can be used for criminals, but that doesn't mean Bitcoin is a crime or the main factors of crime isn't? They're just using the Bitcoin advantages, that's all. Even fiat is centralized, but criminals are use it before Bitcoin exist.

[First Registration]

A criminal using bitcoin as a means of laundering money does not make it a Bitcoin crime.

You are absolutely right. If someone has used Bitcoin for money laundering, then the person who has done this is a criminal. Bitcoin is not a criminal. Bitcoin is used by the biggest companies in the world to transact more money. It is able to transact more money more securely. EitherThat's why the man was caught doing a safe transaction of a lot of money. Bitcoin was not the culprit for this but it was just a medium.

[Mr.right85]

A criminal using bitcoin as a means of laundering money does not make it a Bitcoin crime. Your title is wrong and misleading.
Criminals have always had means to clean stolen money long before bitcoin was envisioned.

It could be, especially for the newbies and those that haven't been around very much. It's the same message the government preach to there unaware citizens and its not helping although, avenues like this on the forum opens the window to some corrections and new ideas.

There are several ways people launder money ranging from buying expensive items, funding company projects ad some foreign nations might even chose to use the dollar. This doesn't make it a dollar crime or a crime of which ever means that was used.

Money laundering is laundering and that is the crime, not the means. People just use which ever is the more Co.fortable with them.

[PrivacyG]

  You only need to take a look at the graph of money loundered via cryptocurrency per year to see that there are lots of money loundering going on in the crypto space every year.

I can pretty much only see the Ransomware, Scamming, Stolen and Darknet markets in there.  You would be surprised to know how much Fiat is actually received by illicit entities every year.  The figures are much, MUCH larger than what you see in Cryptocurrency.

Scams are pretty much everywhere.  And over 70% of the Cryptocurrency scams I have personally seen on the Internet have happened due to human stupidity.  I bet most of these billions are coming from these 'send me $2k I give you double back' kind of scams where they voluntarily send money with no common sense.  Also, is this even money laundering that you are showing?  I am pretty sure money laundering means concealing illicit funds into funds that are seemingly coming from clean activities.

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Regards,
PrivacyG

[Ayers]

A criminal using bitcoin as a means of laundering money does not make it a Bitcoin crime. Your title is wrong and misleading.
Criminals have always had means to clean stolen money long before bitcoin was envisioned.

This makes me wonder if crypto is easier to track than using fiat to move the funds around.

If they withdrew cash and transported it via car from France to Israel, they'd only really risk being found at the initial withdraw step (and if they can hide their identity well for that bit, they probably wouldn't be recognised the rest of the way) - the money could then be laundered by more tried and tested measures to ensure it looks like they acquired it a legit way.

Stories like this simply show us cryptocurrency isn't the perfect tool for criminals to deal with, different from what the media tell us. Thieves are constantly getting caught when using crypto for their schemes. Maybe that is because crypto is trackable like everything in this virtual universe, different from paper money which doesn't let any traces on most cases and require deep and long investigations until authorities discover the scheme.

The more criminals use cryptocurrency for their businesses, the easier it's going to be for the police to do their job.

as you say, cryptocurrencies are of great benefit in helping the police to effectively prevent crime, the more criminals use cryptocurrencies, the easier it is for the police to track down and catch them
it's the complete opposite of what the media is spreading that bitcoin and cryptocurrencies make criminals more sophisticated, more complex, this is one of the benefits that the government should consider for cryptocurrencies and early mass adoption of cryptocurrencies, lol

[masulum]

as you say, cryptocurrencies are of great benefit in helping the police to effectively prevent crime, the more criminals use cryptocurrencies, the easier it is for the police to track down and catch them
it's the complete opposite of what the media is spreading that bitcoin and cryptocurrencies make criminals more sophisticated, more complex, this is one of the benefits that the government should consider for cryptocurrencies and early mass adoption of cryptocurrencies, lol

Discussing this will never end, because there will always be two sides, pros and cons. For the pros, bitcoin is a savings for the future and a secure to be used as  payment. As for the cons, they will always look for the weaknesses of BTC which are not often also not in accordance with the vision and mission of satoshi. Crime happens not only in this world using BTC.

[kryptqnick]

I am happy that the law enforcement is doing their job and going after criminals. The story is very vague because "cryptocurrencies" could've been any coins, and also what they describe sounds like crypto mixers but could have been multiple investments in ICOs or whatever. If it were Bitcoin specifically, I think it would have been mentioned in the article. In any case, the usage of coins for illicit activities doesn't make the currency itself illegal or bad. That sort of argumentation is used unfairly, since it can actually be applied to any fiat, as well as beyond the financial realm (for example, people who make child porn use cameras, so let's ban those).

[bitzizzix]

There is no longer any connection between bitcoin and money laundering than between the US Dollar and money laundering. Bastards and criminals use all forms of currency.

Blaming bitcoin for a math problem or a computer program for someone using that tool to break the law is like blaming a screwdriver for someone who stabbed someone with that screwdriver.
and the problem that the OP mentioned is only cryptocurrency, not bitcoin because most people only know cryptocurrency is bitcoin, especially newbies who don't read it well before judging it is bitcoin.

[isaac_clarke22]

~

Bitcoin just becomes the medium, but it does not support anything that would say that using Bitcoin is a crime and is the cause of money laundering. Money laundering even happens outside crypto and I believe there are waaaay too many people doing that more rather than us, crypto user.
Even from scams, Bitcoin is just being used as the currency but it is not entirely the root of all these scams.

[PrivacyG]

I think it is very unfair that while we are focusing so much on the smaller crimes, the largest and biggest ones get away with no consequences.  Let us be honest, there are so many papers that have been leaked only in the past five years proving there are a TON of politicians and wealthy people doing the laundering and illicit activity amounting to enormous sums of possibly trillions.  Yet we are focused on things like someone scamming someone else for $10k.  It is just as bad, of course, I do not think we should ignore the guy scamming for less.  But it is kind of insane how we give zero damns about a public figure just because they are well known and the main focus goes to things like 'hey, but Bitcoin has scams!  Let's ban it!'.

This thing blew up a few months ago.  The bank from Switzerland that got documents leaked a few months ago.  Everyone acted so surprised that so many politicians and public figures are hiding wealth when this was a well known fact for so many years!  How come it was a known fact for me but authorities act surprised?  Am I so special to know tips and tricks of the Wealthy?

As much as I do not want this to sound like a conspiracy, this idea of governments, mainstream media or particular public figures having a specific agenda to make Bitcoin sound like a criminal's choice is getting a bolder and bolder confirmation in my head every time things like this happens.  Crime is everywhere.  Crime exists even outside Fiat and Cryptocurrencies.  What this 'Bitcoin is bad' thing is, is exactly a targeted attack.

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Regards,
PrivacyG

[franky1]

I think it is very unfair that while we are focusing so much on the smaller crimes, the largest and biggest ones get away with no consequences.  Let us be honest, there are so many papers that have been leaked only in the past five years proving there are a TON of politicians and wealthy people doing the laundering and illicit activity amounting to enormous sums of possibly trillions.  Yet we are focused on things like someone scamming someone else for $10k.

the difference being that in fiat. they have had practice of decades to shelter themselves

setting up dummy companies where by the "company" takes the responsibility. not the human running the company.
so because you cant put a business in prison. all they can do is put a fine on the company. and due to certain laws. fines have a limit on what the amount can me.
and thats how they get away with it

in crypto.because some millenial->GenZ has had no proper teachings about off shore accounts/shell companies. and legal entity "person". its easier to tie a human to an action
(however things could be done to change this)

this is why. for instance the clinton foundation can syphon money into the foundation. have no income tax on it because its not a human its a legal entity. then the clintons(humans) as beneficiaries but not owners can spend the money while not taking the responsibility for the fund
(EG they can plead ignorance when they get "donations" from terrorists)

however in crypto. whomever owns/controls the key is the perpetrator of anything bad that happened using them funds
this is usually where people should (not endorsing, speaking common sense knowledge) use multisigs so that it becomes difficult to prove who decided to move funds.
also people can set up coded triggers. that when funds enter X address a automated process is performed to move X to Y so that there is no human facilitating the transfer.
(plus it helps to not announce yourself on github that you coded such processes to facilitate certain tasks)

and other processes to turn a normal bitcoin holding into a off shore shell account style system

[Cookdata]

Recently 3 suspects were arrested by Israel police for laundering money internationally through crypto. This money was stolen from France. This is a major international money-laundry.

Bitcoin this, Bitcoin that, Bitcoin government headache, government lets kill this bitcoin, government spread negative news on bitcoin, when will all this stop? The government will always find one little thing to hold against what they don't want or what they don't want to exist.
Money Laundering started way back since the inception of fiat and is still going on, especially by business, so much illegal money has been washed through clubs and warehouses, and some coke has been exchanged in fiat printed by the same government. Criminals will always use any means to carry out their evils, I know it is a concern for the bitcoin ecosystem but they shouldn't make it look as if it only happens with bitcoin.

[TimeTeller]

Recently 3 suspects were arrested by Israel police for laundering money internationally through crypto. This money was stolen from France. This is a major international money-laundry.

Bitcoin this, Bitcoin that, Bitcoin government headache, government lets kill this bitcoin, government spread negative news on bitcoin, when will all this stop? The government will always find one little thing to hold against what they don't want or what they don't want to exist.
Money Laundering started way back since the inception of fiat and is still going on, especially by business, so much illegal money has been washed through clubs and warehouses, and some coke has been exchanged in fiat printed by the same government. Criminals will always use any means to carry out their evils, I know it is a concern for the bitcoin ecosystem but they shouldn't make it look as if it only happens with bitcoin.

People will try to highlight the negative contribution of bitcoin in the market.
They forgot that up until now, fiat is still the leading currency when it comes to illegal stuffs.
This kind of news is a highlight as the money launderers was using crypto.
So it gave negative perception towards bitcoin. But if you educate these people regarding the nature of bitcoin,
they will understand that crypto is just one means in this illegal world of activities.

[darkangel11]

So you are saying bitcoin is evil because they used bitcoin to launder money and commit crime and you want everyone to stop using bitcoin? Why don't you stop using fiat currency because most of the laundering is done through fiat currency. At least they got caught using crypto currencies. I bet it would have been even harder for them to trace the criminals if they used the standard (fiat) currency to launder and commit crimes.

Of course!

We should all stop using anything that enables bad people to do bad things. Let's stop using firearms because they kill people. It doesn't matter that they also save lives and protect us from wild animals.
Let's stop using fiat money because people buy drugs with them.
Let's stop buying alcohol because people get drunk and fight.

Op is just trolling, don't mind him.