Virtual dirty money - why the Feds are circling around bitcoin
Very recently, it has become painfully clear that the US government wants a lot more information on decentralized virtual currencies like bitcoin. In an appropriations bill that went through the committee recently, the House of Representatives requested that the FBI provide a report to them. In the bill, under the heading "Money Laundering": "The Committee understands that bitcoins and other forms of peer-to-peer digital currency are a potential means for criminal, terrorist or other illegal organizations and individuals to illegally launder and transfer money. News reports indicate that....
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With the Yuan depreciating even further, and dirty money being sniffed out, there are very few remaining options for people who want financial freedom. Exciting things are happening in China, albeit money launderers will not agree with that statement. Beijing authorities are collecting all of the dirty money in the country. Several hundred people have been arrested who are involved in illegally transferring money out of China. In fact, a total of 192 locations were discovered were illegal banking service are offered. Over the past few months, a lot of money has been moved out of China.....
Multiple versions of Android are vulnerable to Dirty Cow, regardless of device manufacturer. Even though mobile devices are becoming more popular than ever before, there are still systemic risks. Mainly the Android operating system seems vulnerable to more attacks than ever before. Dirty Cow, a new vulnerability discovered this week, may affect a lot of Bitcoin users as well. One can never be too careful when dealing with finances. It is not the first time a new Android vulnerability is discovered. Given the sheer popularity of this mobile operating system, hackers have been attracted to....
Authorities in Hong Kong have arrested four people suspected of money laundering a total of $155 million through cryptocurrency wallets and bank accounts. The city’s customs agency said this was its first case in which virtual money had been used to launder dirty cash. Money Laundering Syndicate Recycles $155 Million in Crypto and Fiat Transactions The criminal group is believed to have processed illegal funds for a total of 1.2 billion Hong Kong dollars ($155 million), Hong Kong Customs announced Thursday. In an operation code-named “Coin Breaker,” officers detained the....
Dirty Money: You don't need Bitcoin to move it. Bitcoin arrived on the World scene in 2009. There are people, of dubious character, interesting people, that have been transferring dirty money throughout the World, a long time before 2009. They can be very clever in how they accomplish this, and Bitcoin, despite all of the media's bad press, still isn't their chosen method of cash transfer. The Economist magazine recently carried out an investigation of the size of this illicit trade. According to Balesh Kumar of the Enforcement Directorate there are examples of criminals utilising the....
Imagine if you will, an obscure meth lab tucked away in some trailer park in rural North Dakota, with a bunch of vagrants tweaking out at all hours of the day and night - robbing, stealing, pawning, and doing just about anything that they can in order to get another sweet fix. Now, imagine a long-time sting operation finally goes into effect and the feds swoop in and arrest everybody involved with the meth production along with all of the collateral users in the area. Upon later investigation they find stacks and stacks of cold hard cash that people used in order to purchase meth. The cash....