Money laundering via BTC - page 4. | Bitcointalksearch.org

zee11225

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Quote from: Victorycoin on June 23, 2019, 06:42:59 AM

There are a lot of way for money laundering but bitcoin is the best way among all the way of money laundering and for becoming favorite of bitcoin is one of the main reason is money laundering.

Bitcoin being a place for money laundering makes perfect sense because of anonymous factors. But in my opinion the percentage is not big because right now bitcoin has become a place of speculation for big capital owners because the price is fluctuating, so large investors can enjoy large profits in a short time.
Certainly different from general money laundering places such as banks, gold investment or buying property, of course the price continues to rise even though it is not as fast and as high as biotcoin. If bitcoin becomes a place for money laundering it is certainly very risky, because if the price goes down the money from the crime will decrease in value.

jjbanks994

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you can for sure. have you seen this report? https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/

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Quote from: Soros Shorts on January 09, 2017, 01:53:19 AM

Of course it is possible to launder money via Bitcoin. Otherwise, Bitcoin cannot be considered the equivalent of a real currency, because the ability to launder money is a "feature" of every fiat currency. Grin

LOL your correct but this stupids always come to say the Bitcoin and altcoins is worst in laundering. Is there any have the the more cases about money laundering with BTC.
Taken directly complain about that on forum or SEC or somewhere else.

imstillthebest

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Quote from: Natalim on June 24, 2019, 01:53:47 AM

Quote from: Victorycoin on June 23, 2019, 06:42:59 AM

There are a lot of way for money laundering but bitcoin is the best way among all the way of money laundering and for becoming favorite of bitcoin is one of the main reason is money laundering.

I can't agree with that, there's way better than bitcoin and that's the privacy coins, when it comes to volume, they also have that, so definitely if the purpose to launder money, they have to be find ways where they will not easily be trace, and definitely it's not bitcoin.

volume ? why you need to consider these things if you want to launder a money ? volume is not important for illegal activities imo but your right that privacy coins are better to use for doing illegal deeds as they are not traceable but when it comes popularity , bitcoin is popular compare to other coins and this might be the reason on why criminals use bitcoin the most but money laundering does also occur offline so its not really a big deal to me when i heard a news like this .

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Quote from: Victorycoin on June 23, 2019, 06:42:59 AM

There are a lot of way for money laundering but bitcoin is the best way among all the way of money laundering and for becoming favorite of bitcoin is one of the main reason is money laundering.

Each transaction can be tracked by government or by someone else who want to know the transaction.

The point of view a new people to bitcoin is fully anynomous but it is wrong, as you may know how many bitcoin mixer which has considered as the best place to be use a money laundering was closed just because the transaction can be tracked.

So, for me bitcoin is not the best place to be use as money laundering, the viewpoint other people was wrong here. You need to look another cryptocurrency which was designed as anynomous place for its user maybe it is monero or something else.

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Quote from: Victorycoin on June 23, 2019, 06:42:59 AM

There are a lot of way for money laundering but bitcoin is the best way among all the way of money laundering and for becoming favorite of bitcoin is one of the main reason is money laundering.

I can't agree with that, there's way better than bitcoin and that's the privacy coins, when it comes to volume, they also have that, so definitely if the purpose to launder money, they have to be find ways where they will not easily be trace, and definitely it's not bitcoin.

Victorycoin

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There are a lot of way for money laundering but bitcoin is the best way among all the way of money laundering and for becoming favorite of bitcoin is one of the main reason is money laundering.

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Quote from: alexcopper on June 20, 2019, 06:58:20 PM

You for sure can money launder via btc that is why there are companies hiring AML compliant companies like ciphertrace to help track and trace any suspicious transactions

If indeed there are companies that are in charge of and pay attention to bitcoin transactions that are misused from the results of money laundering, it is a very good thing and can make a ban on bitcoin transactions because of bad misuse can be reduced. because bitcoin is prone to be misused for things that are not good and difficult to track.

alexcopper

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You for sure can money launder via btc that is why there are companies hiring AML compliant companies like ciphertrace to help track and trace any suspicious transactions

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Quote from: coxian on September 14, 2018, 11:35:17 AM

Yeah, you're absolutely right. It is very much possible to make money laundering via BTC.
Thats some countries marked bitcoin as illegal.

Illegal or not, bitcoin may not be because only from money laundering, it is possible that the regulations available cannot yet place bitcoin as a legitimate tool. but it is clear that bitcoin is very vulnerable to money laundering practices, especially in developing countries whose autonomy is not yet ready to accept the progress of crypto development.

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Quote from: Naida_BR on June 18, 2019, 02:26:39 PM

Quote from: goaldigger on June 18, 2019, 02:32:35 AM

Quote from: shamzblueworld on January 09, 2017, 01:11:50 AM

Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?

If you want to do something illegal, bad , or anything negative and you dont want to be traced then bitcoin transfer is the right thing to do that. Anything about it is anonymous but i dont think its still a hundred percent no trace at all knowing most of the sites and exchanges requires KYC nowadays.

Still you can be traced easily. In your first deposit you have to do a KYC in order to convert fiat to crypto. This is a starting point to be traced.
If you want not to be traced then the best solution is to use a crypto that confirms anonymity such as Monero.

first deposit does not require a kyc unless you are despositing a verry huge amount that is over on your accounts limit , that you should be the time that a site will require you to submit a kyc . also , even without a kyc you can still be track via your previous transaction if ever you use common cryptos such as eth and btc and if you dont mix them using a mixing service . however your right that monero and other privacy coins can give you full advantage to hide your identity online

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Quote from: jekquenkinkas on September 28, 2018, 05:08:07 AM

it is very possible that bitcoin will become money laundering.
because the price is very high and makes bitcoin has a very high value.
and maybe people do money laundering for taxes they have to pay

Bitcoin can be use for money laundering, same with fiat, but the price is not relevant to it.
Why people use bitcoin to launder as they can mix the origin of transaction and make it untraceable, regardless of the price, people will still use as long as they can benefit on it. However, the government are already full aware of this, especially the AMLC, and in fact, lots of mixers have already shut down.

uray

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Quote from: Crypto_topic on September 28, 2018, 03:25:16 PM

I believe it is already been done not a single time and not only with the help of Bitcoin but also other main cryptos as well. And actually transactions are not really anonymous - if you have a private keys and a bit knowledge it can be traceable.

The people who did launder money with bitcoin can be traced in the future as it is a public ledger that has every transaction being recorded and no one can delete those and even with those kind of transparency if fools did launder money, then they will understand the situation they are in when authorities knocks their doors, i am not talking about privacy coins as they are meant to hide every transactions but with bitcoin it is an impossible task.

Naida_BR

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Quote from: goaldigger on June 18, 2019, 02:32:35 AM

Quote from: shamzblueworld on January 09, 2017, 01:11:50 AM

Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?

If you want to do something illegal, bad , or anything negative and you dont want to be traced then bitcoin transfer is the right thing to do that. Anything about it is anonymous but i dont think its still a hundred percent no trace at all knowing most of the sites and exchanges requires KYC nowadays.

Still you can be traced easily. In your first deposit you have to do a KYC in order to convert fiat to crypto. This is a starting point to be traced.
If you want not to be traced then the best solution is to use a crypto that confirms anonymity such as Monero.

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Quote from: shamzblueworld on January 09, 2017, 01:11:50 AM

Is it possible to do money laundering via bitcoin? I mean as no one knows if you have bitcoin and how much bitcoin do you actually own, it could be used to convert black money to white right? Or at least store your black money without much hassle. But there is the risk of its value but I think for people who have lots of black money and don't want to be caught, this risk might be worth taking for them isn't it?
What are your thoughts?

If you want to do something illegal, bad , or anything negative and you dont want to be traced then bitcoin transfer is the right thing to do that. Anything about it is anonymous but i dont think its still a hundred percent no trace at all knowing most of the sites and exchanges requires KYC nowadays.

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Quote from: elisnrj on June 13, 2019, 09:54:30 PM

Of course, I think bitcoin is a powerful tool for us to do money laundering by utilizing technological advancements. And this makes the government not like it, one of them is by creating a special field that discusses financial technology (fintech) and cyber crime (cybercrime).

They can't control bitcoin as it's decentralized, they need to stop all miners for people not to be able to transact.
It can be use for money laundering of course but they can prevent or trace it if they will push full regulation in the crypto space, that I am not seeing yet as some countries still does not care about crypto, some countries even ban it but they don't see it's potential and on how their economy can be help with crypto.

The AMLC is the agency required to trace money launderers and they can do better with regulation as blockchain can be trace and its transparent.

elisnrj

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Of course, I think bitcoin is a powerful tool for us to do money laundering by utilizing technological advancements. And this makes the government not like it, one of them is by creating a special field that discusses financial technology (fintech) and cyber crime (cybercrime).

oseikuf44

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Using Bitcoins is the best way to convert dirty money from terrorism, tax evasion and other malpractices to a real money.That might be the main reason why financial authorities do not want Bitcoins to get to the masses.

alexcopper

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You can money launder for sure but just realize that there is technology that can trace this back to the owner. That's why exchanges and atms are hiring companies like ciphertrace for AML compliance.

danipay

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Basically, all potential items are subject to large money laundry, dollars, gold and bitcoin.
But the bitcoin risks can be smaller if regulated by the state.

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