Btc crime - page 4. | Bitcointalksearch.org

Wexnident

hero member

Activity: 2702

Merit: 672

I don't request loans~

Quote from: Vickky Rae on August 17, 2022, 08:46:21 AM

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.

So is every other money-laundering case that used fiat. Pretty sure we should be blaming the people involved that did the crime instead of anything else.

https://beincrypto.com/fiat-still-accounts-for-the-majority-of-financial-crimes-us-treasury-department-report/
To quote

Quote

However, these Treasury reports revealed that fiat currency and traditional networks still account for more criminal flows than cryptocurrencies.

“The use of virtual assets for money laundering remains far below that of fiat currency and more traditional methods,” the U.S. Treasury shared.

Rruchi man

legendary

Activity: 1456

Merit: 1108

Use chips.gg

Quote from: Vickky Rae on August 17, 2022, 08:46:21 AM

Recently 3 suspects were arrested by Israel police for laundering money internationally through crypto.

People always tend to abuse and use technology or an innovation the way they think is best for them and unfortunately you cannot control and restrict people from finding these negative uses.

Prior to bitcoins and crypto, Money laundering has always existed and if there's an "after bitcoin" scenerio or a means better than crypto for laundering, it will become the option. It is just very unfortunate that these individuals chose crypto as their preferred means to launder currently. It doesn't mean that crypto or bitcoins is for money laundering.

Baofeng

legendary

Activity: 2576

Merit: 1655

We should also look at the numbers on how big fiat is, and I would say that it is the go to when criminals wanted to launder money and not crypto.

And we've heard criminals getting caught by the police because obviously everything in on the public blockchain. So I would say that this criminals are dumb to uses bitcoin or crypto because sooner or later they will be track and get caught.

tabas

hero member

Activity: 3024

Merit: 745

Top Crypto Casino

This is not new. Typically, money launderers will all the means that they can just to launder money from here and there. Literally, it's the cryptocurrencies and various of them are being used to launder money. It's just bitcoin was always attacked with such news because it's the most common and popular crypto of all time. But when it comes to laundering money, you'll see the enormous number that these people do in terms of fiat, if that's how they're living, they know the ins and outs of it and they're just taking advantage of the feature that crypto has to offer. There really are pros and cons about crypto as a means of payment and transfer and these people chose the bad use of it.

Ever-young

sr. member

Activity: 1288

Merit: 231

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: Vickky Rae on August 17, 2022, 08:46:21 AM

Recently 3 suspects were arrested by Israel police for laundering money internationally through crypto.

With or without btc their will always be a money theft, it's called international money laundering crime not because it was laundered through btc but it was because the money was stolen from a country and transferred to the order country.

We should not always picked the negative things which hackers and thief's use a development like btc for, but we should as well consider the positive things which it has helped us achieved.
Btc saved lots from Financial crisis, give them quick access to money and make things more easier than it has ever been.

Mate2237

hero member

Activity: 700

Merit: 577

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: Vickky Rae on August 17, 2022, 08:46:21 AM

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.

Where did you hear the news? You would have insert the link for easy access. like this what you have posted will be tagged as copy and post because the information is not yours but another person's own so you have to credit the effort of the person who suffered to write the article by just putting the link in the thread.

Detritus

member

Activity: 295

Merit: 98

Quote from: Vickky Rae on August 17, 2022, 08:46:21 AM

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.

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.

Blockchain Decentralization is making it more possible for those scammers to successful lounder money without being caught.

TheNineClub

full member

Activity: 616

Merit: 161

Crypto used for FIAT money laundering has been going on since early 2010, but it's also been going with everything else, investing in stocks, business, gold, you name it. So the issue of laundering is not a crypto problem, it's a money problem in general, and whether we like it or not, BTC can't escape it nor it can stop it or regulate it. At least not that I am aware of.

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

Quote from: un_rank on August 17, 2022, 08:58:11 AM

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.

avikz

legendary

Activity: 3080

Merit: 1500

Quote from: Vickky Rae on August 17, 2022, 08:46:21 AM

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.

Such kind of incidents are quite frequent nowadays. Also I don't foresee a reduction in this numbers of money laundering using cryptocurrency. The NFT market has given an entirely new route for such non sense. But can we blame the money itself for such things?

The answe is no! Money laundering has been happening since ages. Criminals will always keep on doing their thing but does that make the money dirty? Such crimes has nothing to do with bitcoin. It's just a acceptable medium of exchange. Take it that way!

_act_

legendary

Activity: 1064

Merit: 1298

Lightning network is good with small amount of BTC

Why do you not included the link? This is what I saw online about the crime:

https://news.yahoo.com/israel-arrests-three-international-money-111311674.html

Bitcoin was not yet mentioned, only cryptocurrencies were mentioned three times (cryptocurrencies were mentioned two times and digital currencies was mentioned once:

Quote

JERUSALEM (Reuters) - Israeli authorities said on Monday they had arrested three suspects as part of an investigation into "large-scale fraud" against the French treasury and the theft and laundering of millions of euros with cryptocurrencies.

Quote

Some of the money, they said, "originated from crimes committed abroad, while using digital currencies on various platforms in order to obscure and disguise the identity of the owners and the movement of the money".

Quote

"The investigation focused on the suspicion of large-scale fraud against the state treasury in France that was carried out from Israel, and the theft of millions of euros and the laundering of the funds by converting it into cryptocurrency," the statement said.

It gave no further details into the alleged crimes.

Do not forget DeFi has the highest crime rate, not bitcoin, and we do not know how the crime was committed and the cryptocurrencies that were used.

un_rank

hero member

Activity: 644

Merit: 661

- Jay -

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.

You did not include^[1] an article to the news.

[1] https://news.bitcoin.com/israel-arrests-3-in-crypto-scheme-to-launder-millions-stolen-from-france/

- Jay -

Vickky Rae

newbie

Activity: 7

Merit: 0

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.

Topic: Btc crime - page 4. (Read 804 times)