Blaming Bitcoin for Aiding Terrorism, Money Laundering and Drug Trafficking
A technology has two aspects - good and bad. The aspects however are not integrated within the functions of a technology; but instead, it is implied by its operator - the man - which decides whether to utilize an innovation for a good or bad purpose. Bitcoin somewhere has fallen between these two distinctive flocks: one, which is trying to utilize its technology for making banking easier, faster and cheaper; the other, which is abusing it for all notorious crimes that hold the power to destabilize order. Speaking particular about the latter, criminals indeed have found an accessible....
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It is the first time Bitcoins are being seized by the NCB during an investigation. India is one of those countries warming up to Bitcoin and cryptocurrency. Unfortunately, this is not always a positive trend. A lot of people use Bitcoin for legitimate reasons, but there is an increase in drug trafficking. The Indian Narcotics Control Bureau seized 500 Bitcoin during a drug investigation earlier this week. The deep web is a significant threat regarding drug and weapon trafficking. These underground marketplaces make it easier for criminals to buy and sell their goods and services online. In....
Money laundering has always been one of the most prevalent issues faced by international finance watchdogs. The criminals involved in integrating "dirty money" into legitimate financial systems often get away undetected, which in turn increases the possibility of the channelization of funds into numerous illicit activities including drug trafficking, pornography and terrorism. eXbino, a binary options trading company registered by CySec financial supervision commission, recently discussed why it is important for global companies like theirs to follow the existing Anti-Money Laundering....
Ross Ulbricht, the Texas native arrested in San Francisco last October in relation to the Silk Road online black marketplace, has entered a formal plea of 'not guilty' to all charges. The indictment hearing for the man accused of being the site's 'Dread Pirate Roberts' comes after more than 120 days in detention and interestingly, did not include any of the (up to) six alleged attempts to murder Silk Road cohorts by contract, none of which resulted in an actual death. The hearing and not-guilty plea comes after Ulbricht was formally indicted last Tuesday on charges of drug trafficking,....
The alleged leader of a darknet drug trafficking group has been extradited from Romania to Denver, to face multiple criminal charges. The alleged leader of the drug ring is suspected to be the brains behind the darknet vendor “ItalianMafiaBrussels”. Filip Lucian Simion, a 23-year-old man was extradited from Romania to Denver, Colorado to face charges of drug trafficking and money laundering, the U.S. Department of Justice announced. Simion was arrested along with nine other defendants during a joint U.S./European law enforcement operation in the early hours of May 3, 2016. Simultaneous....
“The Silk Road underground website was the global venue for drug trafficking and money laundering, producing millions in dirty profits. DEA and others followed the money throughout this investigation, leading to this seizure. The website was used by drug dealers to put illicit drugs into our communities and literally at our doorsteps nationwide,” said DEA Special Agent in Charge, Brian R. Crowell. The US Marshals announced that it will auction off another set of 50,000 bitcoins, worth about $11.7m at press time, in March. The bitcoins were originally obtained by the FBI when they shut down....