Topic: Bangladesh militants use Bitcoins for laundering money to Kashmir (Read 583 times)

It's not new Bitcoin is used for illegal activities, perhaps because it makes it easier for Bitcoin to send money abroad. So criminals are interested
in committing crimes using Bitcoin, therefore a special team for internet crimes is needed to track down  the perpetrators of these crimes.
Because now criminals are getting smarter at tricking the police with increasingly sophisticated technology. If the police do not improve their skills
in technology, criminals will always be one step ahead.

So, any problem with that?

I guess it is just a common news especially when bitcoin price is increasing. But, I don't think it will prevent the investor who will buy bitcoin for their investment place.

Remember, bitcoin is money and we will free to using it, as for we have limitated by the government we still using it with another ways. Bitcoin always reported as a place for money laundering even though they don't know bitcoin is very transparent.

You are talking about a war to take over a country because it is corrupted and you want another corrupt country to take over and merge them together  . It is disappointing to see racial profiling regimes in power and what government you are talking about who hates Muslims, now i got it, it is a right wing party with fascists ideologies and you think they will sort the issues. It will create a much bigger mess if they try to intervene.



Bangladesh already banned bitcoin as per my searches and how can it change things if they really think that bitcoin is used to fund terrorism. What are the evidence they are providing to substantiate their case file.

Defamation? Bro if I do stupid shit, of course there'll be defamation. Run the country like a country not your as a grocery store family business.

Everyone in the region already knew this and we've been reading, writing, hearing about all this for decades now. People that have extended family that are living in BD today and have been for centuries are all suffering. There is no "defamation" going on here. Just the truth. Admit it. Fix those issues. Move on.

BTW that day isn't far away when India and BD unites again. For good. Let's hope you guys are able to clean this filth in your military and political areas before that day arrives so that a peaceful reunification can happen.

- But the problem is that even if we demonstrate the value of crypto and bitcoin in the community and government, they will still use negative examples against bitcoin, we cannot try to promote them in this legalization issue as bitcoin is used by so many bad guys to harm society and government, bans will at least prevent similar situations from happening, minimize damage, we as a good user, the impact is not too great. We can still use bitcoin every day through different ways and methods of access, the value of bitcoin cannot be changed just because of such information

This has been an issue for years already. Bitcoin surely had a bad image long time ago since many people used it for illegal things, buying drugs, money laundering and other criminal things. That's why there are many countries banning cryptocurrency as well. But still, it can't be stopped. The anonymity of btc surely help it, and it'll be even harder to track if the criminals do illegal things using bitcoin.
I hope there will be a way to solve this, since it might give bad impact, and make it harder for bitcoin to be accepted as a worldwide currency by many.

People are so smart at this time and they are finding smart way to transfer money. For a developing country like Bangladesh, money laundering is a great curse and for this, the government of Bangladesh is not accepting bitcoin as legal currency.

Let's stop making it look like there won't be money laundering if there is no digital currency, Fiat have been used millions of time for money laundering, terrorists fundings and illegal things as well, if any country can put ban on crypto because of this they should put ban on Fiat as well

They were arrested in 2019 but the news has been published now?
Well, I will not be surprised to see some good politicians are also laundering money through bitcoin.
Your links are not working, please share the direct url, short links are not allowed in forum also.

This documentary has a sole purpose of defaming the current govt. while I have to agree that documentary is partially true.

Now that explains why the India government recently announced that they would "ban" Bitcoin in India. It is things like this that are turning governments against Crypto currencies. 

The thing is.... they could have used diamonds or gold coins and the India government would not ban that, if they used that? Probably not, because they know diamonds and Gold are used for legal things too. We need to show them that Bitcoin is used for "legal" things too and not just for crime. 

We have a lot of hard work to "educate" governments to the positive side of Bitcoin. 

Another incident wherein the use of bitcoin is overly emphasized on a problem stemming from some other issues that the parties didn't bother tackling before. Bitcoin is placed on a bad light even though it only does what it's expected to do. Most terrorist funds do not directly come from bitcoin transfers, and I believe that the bulk or majority of such funds come from laundered fiat that came from multiple sources. It's easier to actually transfer fiat from point A to point B and is much more private, considering that there is this bank secrecy law safeguarding deposit information and whatnot.

They'd have to do better than just spotlighting the use of bitcoin if they want to kill terrorism. Their counter-terrorism agencies seem to be incapable of culling the problem from its roots.

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.

People and the Government will say what ever they want about Bitcoin and how they now believe that Bitcoin is now responsible for the negative vises they are having in their country. Also the Nigeria Government have said that Bitcoin is used to launder money in the country but also have not been able to point to one proof of such transaction. This is not saying it is not possible but we know money laundering has been in existence even before bitcoin so, if this unscrupulous people now realize this is easier than money, of cause they will exploit it but we didn't say let us cancel fiat when it was used for the same purpose. 

There is definitely something fishy with this news. The Indian government want to ban the ownership of Bitcoin, but they were forced to shelve their plans due to opposition from cryptocurrency users in that country. And now suddenly some "unknown" police official comes up with the claim that Bitcoin is being used to fund terrorism. Till now, there has been zero evidence to link Bitcoin with terrorism in India. And now some anonymous source claims that a link has been found. The timing couldn't be any better for the government. If they are certain about the terrorist link, then let them come up with concrete proof to support the same. Until then, I am not going to believe this BS.

Ethics are related to how people use Bitcoin. Bitcoin in a vacuum should not be judged with a moral compass since it is just a tech, a tool. I'm pretty sure government and some services will try to control it by doing surveillance and blacklist any site/bank account related to these activities, and make it harder for people to withdraw cash from their Bitcoin stack.

Crypto is quite transparent, everything is present in the blockchain, unlike fiat where only some people can track the flow of money and use it for their own purpose (if it's a good thing then good if it's not then we're doomed). Focusing on banning the technology is not going to be effective imo.

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.

Any medium of exchange and has monetary value, they will use it and there is no exception, like us, we can also use it for anything we will use it.

It has always been a big deal because it is the belief what bitcoin is used for, negatively. But just as the same as fiat money, it can used for every purpose that we use.

This is bad for all of us in the crypto world. Sure the number of people involved in money laundering  is fairly small compared to the whole bitcoin market. But bad news usually get more attraction than good news. A few large bad news can shift the public sentiment against bitcoins. We all need to do our part and work towards more transparency in the crypto world. We do want to protect our anonymity but we also want to protect the good position bitcoin has these days. Preventing money laundering should be the goal of every government these days. Somehow we need to arrange our self's with countries that have a lot of problem with criminals using bitcoins.

So this is a case of criminals admitting to committing crime with bitcoin. .. more like they would most like be doing with fiat currency. But rather than punish the criminals alone for abusing/misusing Bitcoin, innocent people who use Bitcoin too get punished together. That's is not justice.

Anyway, the good thing about Bitcoin is that the transactions are transparent to the public... that is a really good feature that can allow security agencies and anyone else track crime money. Fiat doesn't offer this feature to the public as far as I can tell.
By the way, I wish they could provide the addresses used by them in the past to fund the violence. Bitcoin makes it possible for things like that to be investigated public rather than in secret.

Everything can be used for evil purposes. There is a massive amount of military trade which is made by fiat money. No one denies that but if there is something illegal transaction happens in bitcoin then "Bitcoin is used for illegal purposes." Evils can use everything in an evil way, but others will use it in a good way. Cash money is also hard to track. These could have happened in cash then fiat currency is illegal?!

If someone says that they have evidence that illegal activities are carried out with BTCitcoin then they need to provide the evidence in the form of transaction ID and wallet address so that everyone can verify. I have seen similar incidents thrown around implicating BTCitcoin being used for illegal activities but i have not seen one transaction ID or a wallet to substantiate these findings rather simply throwing the name BTCitcoin.

With no evidence it is hard to believe that any transaction have taken place if they are taking the name BTCitcoin. The authorities wants to take the name of BTCitcoin in vain they should have the transaction ID and wallet details to substantiate the claim, if not we have to assume it is a bogus claim to simply put all the blame on BTCitcoin and hide their inefficiencies.

This thing should be expected, many cases of money laundering out there and traditional paper money is the most used currency for laundering money, bitcoin might be hard to trace but it's not entirely untraceable and the launderer track gonna be forever kept in the blockchain but paper money trace will just vanish into thin air, it's just whether they are capable or not, not because the currency's fault.

That's so sad, and obviously this should affect the bitcoin and crypto industry negatively, this will hype and make negative perception of crypto among common people that it's a bad thing used only by criminals. Doesn't matter how good a technology is and what its moto is for, there will always be some people who will misuse it giving it a bad name for everyone. Saddening news.

Yeah it is easy to say to step up their game but if the government is filled with corrupt people to the brim, I think that it will be close to impossible. There are existing methods but those countries do not have the funds to upgrade their current methods and when it comes to government spending, you have to be on budget and you should have the approval of the majority and you have to start almost from scratch.

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.
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.

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.


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.

Kudos to the police they've seized those transactions early. Good and bad people has only one purpose in this kind of transaction which is "privacy" and "convenience". For the legitimate investment like good people did with their Bitcoins governments still on track of them because it is an untaxable wealth or asset, but to those criminals out there those transactions will surely be distributed to some of their branches depending on what they intend to use those Bitcoins but no doubt for funding illegal activities.

If terrorist organizations can use bitcoin to access it, I think that it is definitely a big deal. 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.

Exactly, Bangladesh is a developing country and recently promoted from least developing country to Developing country in terms of Economy and GDP rate. By the way, people are getting smart nowadays and criminals too. Passing money from border, Bitcoin is the most safest way to transfer the whole money without knowing anyone. That's why, criminal can take that opportunity. On the other hand, good people also use Bitcoin as you already explained.

Because we all want privacy with our financial transactions, the good people and the bad, whether we are hiding something or not.

This does not amount to a big deal actually. Sometimes we are overemphasizing such incidents simply because Bitcoin is involved in it. More often than not, criminals use fiat. Good people use it, too. The same goes with Bitcoin. It is being used both by bad and good people. But in terms of cross-border transactions, Bitcoin is a whole lot better than fiat. We all know that. Terrorists must have also heard of it.

The banned Bangladeshi militant organisation Ansar Al Islam (AI) and Ansarullah Bangla Team (ABT) has sent a huge amount of money to Kashmir. The India TV refers to the case of this trafficking through Bitcoin by converting to cryptocurrency. The media reported that an Indian police officer who was reluctant to reveal the name on Tuesday (March 9).

According to the commentary of the officer, a special action group of Sohail Newaz and Fazle Rabbi Chowdhury named two militants were arrested by the Dhaka Metropolitan Police (DMP),  special branch of Counter Terrorism and Transnational Crime(CTTC) in September 2019. During interrogation, they said that militant organizations have been getting a lot of funds through Bitcoin system since 2014.

These two further said that they collected a huge amount of money from Pakistan and Gulf countries in the form of cryptocurrency. They used to raise money through 'Hundi', but it is now in the monitoring of the law-discipline forces.

Additional Deputy Commissioner Ahmedul Islam, the Additional Deputy Commissioner of Bangladeshi Special Action Team, said it was very difficult to identify illegal transactions through Bitcoin. We do not have technical ability to do this.

The US government announced in August 2020 that hundreds of cryptocurrency accounts, four websites and four Facebook accounts were seized. This step has failed the attempt to collect funds with the digital currency of militant groups.

However, digital currency is still banned in Bangladesh. Bangladesh Bank issued a notice on December 2016 asking everyone to refrain from such transactions.

News published by Daily Ittefaq, an influential national newspaper of Bangladesh. I just translated it from Bangla to English. Here is the news link,
https://shorturl.at/rDIPT [Daily Ittefaq]
https://shorturl.at/gjuAL [India TV]