Topic: Money Laundering started with banks not bitcoins. - page 4. (Read 952 times)
the issue thrown by banks regarding money laundering and financing of terrorism is actually something that is irrelevant. all crime can occur anywhere, there is always a gap in the system to be misused. when they try to bring down bitcoin with the issue, banks should also know that their system has always been used as a crime. I think the crypto community and users are mature enough to deal with this, the difficult thing is the effort to provide new people with an understanding of crypto.
Money laundering even started before banks came to existence. I get highly disappointed when the media and people spread false speculations about Bitcoin and what people are using it for. These things tagged to bitcoin already existed before the creation of the earth...
The people in Banking industry have long associated Bitcoins with money laundering, from calling it a bubble to linking it to terrorists money they did everything in their power to destroy bitcoins. Today it's been proved that money laundering happens due to banks, was happening before bitcoins came. Deutsche Bank has been raided for money laundering, and it's pertinent to note bankers from this bank had said bitcoins is used for money laundering. It proves that fiat money is and always will be used for money laundering, it's time to stop the witch hunt against bitcoins. #ItrustBitcoinsoverBank.
Link: https://www.newsbtc.com/2018/11/29/bitcoin-is-criminal-money-says-the-media-while-deutsche-bank-gets-raided-for-laundering/
Link: https://www.newsbtc.com/2018/11/29/bitcoin-is-criminal-money-says-the-media-while-deutsche-bank-gets-raided-for-laundering/
I think that money laundering, and other criminal activities, simply can't be attributed to the currency that it is conducted on.
It's almost like blaming the US dollar, because it facilitates criminal activities. Obviously, that's true, but in no way is it the currency's fault that this is happening. Money laundering will happen regardless of what payment processor or mechanism is in place, and that's just the truth.
Thus, it's not fair to attribute money laundering to bitcoin. In fact, there are so many stringent regulations now surrounding bitcoin exchanges etc., yet people still talk about bitcoin being an underworld currency for some reason. It's an image that the media has painted, and is simply not true.
Yes, Money Laundering started with banks not bitcoins because banks came into existence before bitcoin so the money laundering in bitcoin by criminals started with the banks. No more no less.
if money laundering cannot be used in bitcoin because bitcoin is digital money, and it is not real. so we can't mess with bitcoin or fraud. because everything is set. but if money laundering is in the bank, it is undoubtedly true sometimes, because money in the bank is real and can be used by anyone.
Bitcoin is a currency that seems to be competing with the banking sector/ fiat, reason why we have the ongoing war against BTC, this will keep happening for a while, until BTC become unstopable, Bitcoin is the answer to the cashless policy advocay, the world will be compel to accept it. Money Laundery has been ongoing for decades, before the existence of BTC.
in my opinion the bank feels threatened by the existence of bitcoin, which in this case bitcoin wins in terms of transaction costs which are cheaper than banks. and also faster, of course. they don't know to trick ways to fight bitcoin
actually if you want to do money laundering you can do with bank and bitcoin too.in this world corruption is a thing that we cant not stop.so if anyone use bitcoin for money laundering he can use it but bitcoin is decentralized and a technology.
Deutsche Bank has been raided for money laundering, and it's pertinent to note bankers from this bank had said bitcoins is used for money laundering. It proves that fiat money is and always will be used for money laundering, it's time to stop the witch hunt against bitcoins. #ItrustBitcoinsoverBank.
Link: https://www.newsbtc.com/2018/11/29/bitcoin-is-criminal-money-says-the-media-while-deutsche-bank-gets-raided-for-laundering/
I absolutely agree with you, but 316 million is way beyond what banks are really capable of. Given the current low marketcap, there is a case in which a group of banks is accused of an attempt to launder more than the total crypto market capitalization! It sounds unbelievable, I know, but this is not some low quality news, the forbes wrote about it a while ago: https://www.forbes.com/sites/francescoppola/2018/09/30/the-banks-that-helped-danske-bank-estonia-launder-russian-money/. These people got caught, but how many more did everything successfully? Blockchain allows to view transactions and the community is very diversified with no key holders of bitcoin being around. Banks are watching others not to launder money but the problem is that nobody's watching banks and preventing such schemes. Link: https://www.newsbtc.com/2018/11/29/bitcoin-is-criminal-money-says-the-media-while-deutsche-bank-gets-raided-for-laundering/
Yes, Money Laundering started with banks not bitcoins because banks came into existence before bitcoin so the money laundering in bitcoin by criminals started with the banks. No more no less.
The people in Banking industry have long associated Bitcoins with money laundering, from calling it a bubble to linking it to terrorists money they did everything in their power to destroy bitcoins. Today it's been proved that money laundering happens due to banks, was happening before bitcoins came. Deutsche Bank has been raided for money laundering, and it's pertinent to note bankers from this bank had said bitcoins is used for money laundering. It proves that fiat money is and always will be used for money laundering, it's time to stop the witch hunt against bitcoins. #ItrustBitcoinsoverBank.
Link: https://www.newsbtc.com/2018/11/29/bitcoin-is-criminal-money-says-the-media-while-deutsche-bank-gets-raided-for-laundering/
Link: https://www.newsbtc.com/2018/11/29/bitcoin-is-criminal-money-says-the-media-while-deutsche-bank-gets-raided-for-laundering/
Bitcoin is subject to such accusations, because with its help money has become much easier to launder. Money laundering has become available to everyone.
The people in Banking industry have long associated Bitcoins with money laundering, from calling it a bubble to linking it to terrorists money they did everything in their power to destroy bitcoins. Today it's been proved that money laundering happens due to banks, was happening before bitcoins came. Deutsche Bank has been raided for money laundering, and it's pertinent to note bankers from this bank had said bitcoins is used for money laundering. It proves that fiat money is and always will be used for money laundering, it's time to stop the witch hunt against bitcoins. #ItrustBitcoinsoverBank.
Link: https://www.newsbtc.com/2018/11/29/bitcoin-is-criminal-money-says-the-media-while-deutsche-bank-gets-raided-for-laundering/
It seems to me you are missing the point, it is clear that whatever is happening in bitcoin that could be considered as something bad is happening in banks and in a much larger scale, what they are doing is to try to create a smoke screen so people do not adopt bitcoin and they are spreading all kind of lies to fulfill their goal, so for them this is not a contradiction they have known this from the beginning and they do not care. Link: https://www.newsbtc.com/2018/11/29/bitcoin-is-criminal-money-says-the-media-while-deutsche-bank-gets-raided-for-laundering/
Nah. There is a BIG DIFFERENCE.
BTC allows anyone to do money laundering. God I think even I made some money laundering without really looking for it (like a couple of 50$ transactions that weren't clean clean clean).
But banks only allow corporations, countries, governments... You see btc gives power to anyone while banks have the decency to just put above law the really important people. Not the useless common folk.
BTC allows anyone to do money laundering. God I think even I made some money laundering without really looking for it (like a couple of 50$ transactions that weren't clean clean clean).
But banks only allow corporations, countries, governments... You see btc gives power to anyone while banks have the decency to just put above law the really important people. Not the useless common folk.
bitcoin is a fierce opponent so it's getting thrown rotten tomatoes. bitcoin may fluctuate but i believe it will stay.
theft and robbers are no stranger to stealing money in banks and accounts and that has happened often since the first time my advice is to keep your account
Yes very important information because I heard a crucial word money laundering which is directly involved with bank and banking system. Before invention of bitcoin money laundering is a common word..
many people said that bitcoin is the media that used for criminals send money, money laundring and anything else, in fact, that not true. there are many people that use the real money to do the criminals. not bitcoin and not cryptocurreny
It is true that allegations against bitcoins must have affected the growth of crypto but it would not long last as the allegations are false. If these allegations had any weight, then the effect would be lasting and it would have been concerning for the investors.
I still believe that banks and bitcoin can exist and grow together.
I still believe that banks and bitcoin can exist and grow together.
No matter how hard we pin down the banks on this one, still they will insist that bitcoin is the evil and they are the angels sent from above to alleviate criminality and protect the people's financial interest and such. They are trying to instill in people's minds that bitcoin is an instrument created solely for money laundering and will not do any good without looking at their own faults. How many times have big banks been raided and been charged for being a platform for money laundering and such? 
Bitcoin / any crytpo is not good for money laundering because it is hard to exchange physical cash for crypto at any significant scale. The whole point of laundering money is to hide that it used to be dirty cash, so it's not like they can use a bank deposit, buy coins with it, and then expect that it's now magically cleaned. Sure, they could probably buy a few coins via in-person cash exchanges in the park, but that's hardly efficient and for someone trying to launder millions of dollars, not even a viable option.
Exactly, far before bitcoin was created there are alredy people money laundering using fiat, but media and some party try to create unnecessary fud news to focus on the negative side of bitcoin, it makes seems like bitcoin is criminal coin that was created for criminal usage, bitcoin or fiat is just the medium, people not supposed to judge bitcoin or fiat as the criminal things
And it is still done by Banks
It is enough to watch last news about Deutsche Bank money laundering scandal
Bitcoin is to small and blockchain is to transparent for ML
ML is best banks source of incomes
Even if discovered penalty it is small compare to profit
Nobody is jailed for that
But better is to write about bitcoin ML than prevail true about banks fraud
It is enough to watch last news about Deutsche Bank money laundering scandal
Bitcoin is to small and blockchain is to transparent for ML
ML is best banks source of incomes
Even if discovered penalty it is small compare to profit
Nobody is jailed for that
But better is to write about bitcoin ML than prevail true about banks fraud
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