Bangladesh militants use Bitcoins for laundering money to Kashmir - page 2.

bryant.coleman

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Quote from: Imran232 on March 14, 2021, 01:06:32 PM

So whats a big deal if they use bitcoin. Any person do anything but we only blame bitcoin. This is not right. Bitcoin is just a way so why we will blame thats because of it is impossible to track sender and reciever. Well thats not the right fact. I want to tell another thing lots of Bangladeshi prople works in others countries and a huge percent of people use hundi method to transfer money in Bangladesh. Government knows and government also can track them and also government ban it. So what people still use hundi. I think if government start a user-friendly way for bitcoin in our country that people definitely also use bitcoin.

The Hundi/Hawala method remains the preferred mode of funding for 99.999% of the terrorist organizations in the South Asia region. And regarding this news, I am not even sure about its reliability. For me, it looks as if some of the government officials have come up with a wild theory with hardly any proof. They are looking for excuses to ban Bitcoin and to persecute cryptocurrency users. And scripted stories such as this one helps them to go ahead with their plans.

Imran232

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So whats a big deal if they use bitcoin. Any person do anything but we only blame bitcoin. This is not right. Bitcoin is just a way so why we will blame thats because of it is impossible to track sender and reciever. Well thats not the right fact. I want to tell another thing lots of Bangladeshi prople works in others countries and a huge percent of people use hundi method to transfer money in Bangladesh. Government knows and government also can track them and also government ban it. So what people still use hundi. I think if government start a user-friendly way for bitcoin in our country that people definitely also use bitcoin.

Swopon

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Quote from: Shasha80 on March 13, 2021, 09:14:55 AM

It must be admitted that many criminals use Bitcoin for money laundering, and this is not only happening in Bangladesh. But in almost all countries
there are always criminals who abuse Bitcoin to launder money. Therefore, almost all centralized exchanges have implemented KYC / AML to prevent
money laundering. In fact, not a few countries have banned Bitcoin for money laundering reasons. I hope that criminals who use Bitcoin for
money laundering can be immediately arrested and given penalties that are appropriate for their crimes.

Absolutely right, there are many criminals who use BITCOIN to launder money. In South Asian Zone, many developing countries still not legalized Bitcoin but people are using it. Many of them announced it is a crime and will be punished for using it. Bangladesh is one of them and already many cases there where people got arrested for making transaction on BITCOIN.

Shasha80

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It must be admitted that many criminals use Bitcoin for money laundering, and this is not only happening in Bangladesh. But in almost all countries
there are always criminals who abuse Bitcoin to launder money. Therefore, almost all centralized exchanges have implemented KYC / AML to prevent
money laundering. In fact, not a few countries have banned Bitcoin for money laundering reasons. I hope that criminals who use Bitcoin for
money laundering can be immediately arrested and given penalties that are appropriate for their crimes.

mersal

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Until 2009, these kind of criminal settlements are happening in what payment mode? Completely centralized fiat money right so blaming the system is not actually right, it like banning something because few people using the technology in the wrong way. Governments can never seize the cryptos that is why they are worrying much than actual criminal activities.

Sithara007

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Quote from: ene1980 on March 11, 2021, 02:29:16 PM

I do agree with the government understanding the technology and trying to find a way to legalize it rather than an outright ban which will not help the legit users and the people who use it for illegal activities will always find a way to keep doing that.

If they ban the trading of Bitcoin, then the activity will move underground and become more risky for everyone. People will start using decentralized P2P platforms such as Bisq which are extremely difficult to track. Obviously the government can nab a few by posing as traders, but out of the millions of cryptocurrency users in India, how many are they going to arrest? If they allow the exchanges to operate, at least they will make KYC mandatory and the authorities will be able to track the transactions.

ene1980

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Quote from: amishmanish on March 11, 2021, 03:42:35 AM

India TV is the same channel that shows hour long "documentaries" about finding a "Mummy of Raavan" in Sri Lanka. (Raavan is the villain in Ramayan, a Hindu legend). You can judge how genuine they are.

So is it like a soap opera, it is a mythical story from what i understand from the searches and it is great if they can create a documentary about mythical books. If it is good and it is in English or has subtitles do share me the content so that i can watch.

Quote from: amishmanish on March 11, 2021, 03:42:35 AM

Also, even if governments ban bitcoin based on such sketchy news, the terrorists won't magically stop. When the US govt sanctioned Iran, they didn't stop flying the F-14 Tomcat. In fact, today Iran has the only F-14 Tomcats in service in the world. And they did well enough on their nuclear program too. Political problems don't end by bans/ sanctions but by actually facing the real underlying issues.

I do agree with the government understanding the technology and trying to find a way to legalize it rather than an outright ban which will not help the legit users and the people who use it for illegal activities will always find a way to keep doing that.

Swopon

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Quote from: Sithara007 on March 11, 2021, 06:47:32 AM

Quote from: amishmanish on March 11, 2021, 03:42:35 AM

India TV is the same channel that shows hour long "documentaries" about finding a "Mummy of Raavan" in Sri Lanka. (Raavan is the villain in Ramayan, a Hindu legend). You can judge how genuine they are.

Also, even if governments ban bitcoin based on such sketchy news, the terrorists won't magically stop. When the US govt sanctioned Iran, they didn't stop flying the F-14 Tomcat. In fact, today Iran has the only F-14 Tomcats in service in the world. And they did well enough on their nuclear program too. Political problems don't end by bans/ sanctions but by actually facing the real underlying issues.

Yeah.. just noticed that the OP had posted link from India TV. No one takes this TV channel seriously in India. It is the TV version of Coin Telegraph. Always showing fake news, or bait videos. That said, given the close proximity of this particular TV channel to the ruling party, I won't rule out a well planned propaganda campaign against Bitcoin in India. If the government proxies paint Bitcoin as something used by terrorists, then it will be much easier for them to go ahead with a ban.

I don't think that the news is fake. India TV can publish negative sides or fake news or something like that. But it was also published by a renowned newspaper of Bangladesh which is nationally certified (News Link will be given below).

https://bit.ly/3rFBcPo (Use translator)
https://bit.ly/3ckHTju

Swopon

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Quote from: Sithara007 on March 10, 2021, 11:20:11 PM

Quote from: Swopon on March 10, 2021, 09:40:27 PM

Quote from: bryant.coleman on March 10, 2021, 09:08:23 AM

I believe that Bitcoin trading is already banned in Bangladesh. And now with this incident, they will start cracking down on the P2P platforms as well. And since the Kashmir militants are also involved, I don't think that the Indian authorities will remain silent. They will also try to target those traders who use the P2P platforms. Still, I don't believe that this news is very accurate. It is not easy to convert Bitcoin to fiat cash in either India or Bangladesh. Most of the militant groups receive their funding in the form of "Hawala" which involves physical cash.

Yes, you are right that Bitcoin is banned in Bangladesh by Supreme Court. (https://www.dhakatribune.com/business/banks/2017/12/27/bangladesh-bank-ban-bitcoin)

On the other hand, if militant groups can receive their fund in cash, they can use Bitcoin network too for being anonymous. It's very natural that they will receive or send through BITCOIN.

I don't think that terrorists would prefer Bitcoin. It is not easy to convert cash to Bitcoin, and Bitcoin to cash in India anonymously. As Coleman stated, the preferred funding route for the terrorists remain in physical cash. When they can easily fund their operations through Hawala, I don't think that they will go for the Bitcoin route, which can be more tedious and more prone to tracing by the authorities. There may be isolated incidents though. And for the government, that is enough to impose a blanket ban on Bitcoin.

Actually something happened there, that's why it came out publicly and published in newspaper. Obviously, there has reputation issue too for Bangladesh where Bitcoin is not legalized. They can only know why they choose to use such route. It is easy to convert Bitcoin to cash as I am also from Bangladesh and I usually convert Btc or other Cryptocurrency to cash according to my need. For big amount, it may cause some problem if they want all in a hurry.

Sithara007

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Quote from: amishmanish on March 11, 2021, 03:42:35 AM

India TV is the same channel that shows hour long "documentaries" about finding a "Mummy of Raavan" in Sri Lanka. (Raavan is the villain in Ramayan, a Hindu legend). You can judge how genuine they are.

Also, even if governments ban bitcoin based on such sketchy news, the terrorists won't magically stop. When the US govt sanctioned Iran, they didn't stop flying the F-14 Tomcat. In fact, today Iran has the only F-14 Tomcats in service in the world. And they did well enough on their nuclear program too. Political problems don't end by bans/ sanctions but by actually facing the real underlying issues.

Yeah.. just noticed that the OP had posted link from India TV. No one takes this TV channel seriously in India. It is the TV version of Coin Telegraph. Always showing fake news, or bait videos. That said, given the close proximity of this particular TV channel to the ruling party, I won't rule out a well planned propaganda campaign against Bitcoin in India. If the government proxies paint Bitcoin as something used by terrorists, then it will be much easier for them to go ahead with a ban.

iv4n

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Quote from: legendster on March 10, 2021, 07:02:18 AM

To fully understand the scale of corruption in BD you guys should watch this report from Aljazeera.

https://www.youtube.com/watch?v=a6v_levbUN4

Their semi-autocratic military raj with a puppet democracy is a threat to not just India but other countries as well. They need to be taken out and the Bangladeshi people should be reunited with India and given absolute political, economical and cultural freedom.

Ironically the only government capable of doing this is BJP, the very govt. that hates muslims or anything non-hindu.

This is one crazy report! 5 brothers, one chief general, and 4 criminals!
I like to watch documentaries (different kinds) and I can say there's some pattern... many governments around the world are connected with criminals, simply they started a journey together! A political party needs a muscle, they take some new gang from the street to protect them, while they will share intel and jobs with them! It's all on a small level, more money goes to their political plans, but once the political party takes the government, all of them grow so big in a very short period of time! Here we talk about billions of dollars that are taken from the government and washed by those criminals... in their country and all over the world!

Sadly I live in a similar country... this is one big joke... you can't believe what kind of prime minister we have here, the one that doesn't know how to talk properly, like most other ministers! But that political party rule for 8 years now, and they are the bosses of everything!

So is there a country in the world that is free from this? Maybe not, maybe some advanced countries are doing that in a sophisticated way, but all world is infected!

amishmanish

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India TV is the same channel that shows hour long "documentaries" about finding a "Mummy of Raavan" in Sri Lanka. (Raavan is the villain in Ramayan, a Hindu legend). You can judge how genuine they are.

Also, even if governments ban bitcoin based on such sketchy news, the terrorists won't magically stop. When the US govt sanctioned Iran, they didn't stop flying the F-14 Tomcat. In fact, today Iran has the only F-14 Tomcats in service in the world. And they did well enough on their nuclear program too. Political problems don't end by bans/ sanctions but by actually facing the real underlying issues.

goldade

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One of the major feature of bitcoin is that it is anonymous and that it helps secure one's privacy. You should also know that bitcoin was created for everybody, the good and the bad, and can be used by both. Bitcoin is intrinsically not a bad thing and only those who use it for the wrong reasons are bad.
I'm sure this particular news would go viral because of the involvement of bitcoin in a crime due the fact that the government are trying their best to paint bitcoin in a bad light. No one would care to mention the number of people bitcoin have helped improve their status of living

Sithara007

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Quote from: Swopon on March 10, 2021, 09:40:27 PM

Quote from: bryant.coleman on March 10, 2021, 09:08:23 AM

I believe that Bitcoin trading is already banned in Bangladesh. And now with this incident, they will start cracking down on the P2P platforms as well. And since the Kashmir militants are also involved, I don't think that the Indian authorities will remain silent. They will also try to target those traders who use the P2P platforms. Still, I don't believe that this news is very accurate. It is not easy to convert Bitcoin to fiat cash in either India or Bangladesh. Most of the militant groups receive their funding in the form of "Hawala" which involves physical cash.

Yes, you are right that Bitcoin is banned in Bangladesh by Supreme Court. (https://www.dhakatribune.com/business/banks/2017/12/27/bangladesh-bank-ban-bitcoin)

On the other hand, if militant groups can receive their fund in cash, they can use Bitcoin network too for being anonymous. It's very natural that they will receive or send through BITCOIN.

I don't think that terrorists would prefer Bitcoin. It is not easy to convert cash to Bitcoin, and Bitcoin to cash in India anonymously. As Coleman stated, the preferred funding route for the terrorists remain in physical cash. When they can easily fund their operations through Hawala, I don't think that they will go for the Bitcoin route, which can be more tedious and more prone to tracing by the authorities. There may be isolated incidents though. And for the government, that is enough to impose a blanket ban on Bitcoin.

Trinx01

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Well, there is no news for that thing, we can also see this news with fiat currency, the thing about laundering cryptocurrency is that most people think that it cannot be traced by the government. A lot of things like this are now existing because of the value of bitcoin nowadays.

Swopon

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Quote from: bryant.coleman on March 10, 2021, 09:08:23 AM

I believe that Bitcoin trading is already banned in Bangladesh. And now with this incident, they will start cracking down on the P2P platforms as well. And since the Kashmir militants are also involved, I don't think that the Indian authorities will remain silent. They will also try to target those traders who use the P2P platforms. Still, I don't believe that this news is very accurate. It is not easy to convert Bitcoin to fiat cash in either India or Bangladesh. Most of the militant groups receive their funding in the form of "Hawala" which involves physical cash.

Yes, you are right that Bitcoin is banned in Bangladesh by Supreme Court. (https://www.dhakatribune.com/business/banks/2017/12/27/bangladesh-bank-ban-bitcoin)

On the other hand, if militant groups can receive their fund in cash, they can use Bitcoin network too for being anonymous. It's very natural that they will receive or send through BITCOIN.

Darker45

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Quote from: Lorence.xD on March 10, 2021, 01:23:36 AM

Quote from: Darker45 on March 10, 2021, 12:32:09 AM

Quote from: Lorence.xD on March 09, 2021, 11:32:32 PM

~

Uh uh, definitely not. Bitcoin doesn't have a gatekeeper. Bitcoin does not have an administrator like the one we have here on this forum. Bitcoin does not discriminate users. Bitcoin is what genuine freedom is all about. You are a criminal, a pedophile, a politician, a saint, a terrorist, and so on does not matter. You are welcome.

It's pretty sad that this is the final frontier when it comes to morals of bitcoin. If this is freedom is then being locked in a cage safe from all this evils is a far better choice then, we can't just look the other way when there are people that are using it for malicious purpose.

There's no such thing as morals of Bitcoin. Bitcoin is no religion. It's simply a decentralized currency free for all.

If you are to completely avoid all the evils, I'm afraid even if you leave humanity you cannot get away from it. Your mind itself is a bearer of evil.

You and I are moral beings so perhaps we could something when and if Bitcoin is used for malicious purposes but you cannot assign any kind of culpability to Bitcoin itself just as you cannot do the same to a fork which was used to stab someone.

Quote from: Darker45 on March 10, 2021, 12:32:09 AM

Quote

Yes, it might look like scratching the surface but there is something more to this and I think that we should be scared of it. As long as there is no real way to prevent terrorist organization and other bad elements from using bitcoin/cryptocurrency, I think that we should treat it as a big deal.

There is no preventing them from using Bitcoin. That is the truth. But, you know, law enforcers will enforce the law. Law enforcement is precisely the reason behind AML, CFT, KYC, and so on. It's their cat and mouse game.

As to Bitcoin, it is there for everyone. In the same manner that countries are not shutting down Toyota car dealers even if ISIS troops are riding on Toyota Hilux. They don't shut down Samsung or Apple or Nokia stores even if these terrorists are communicating through their mobile phones.

I want to believe you that law enforcers will enforce the law but I wasn't born yesterday, law enforcers are breaking the laws too, this world is slowly descending to chaos and we just smile and do nothing about it. Your right about the Toyota cars being used but if the manufacturers were to know that they are dealing with a terrorist, I think that they will not deal with them. Those cars came from CIA so we can't do anything about it.

We share the same doubt, although mine does not stop at law enforcers. How could you be sure that Toyota won't provide cars to bad people while law enforcers do?

Topic: Bangladesh militants use Bitcoins for laundering money to Kashmir - page 2. (Read 503 times)