Topic: Money laundering via BTC - page 9. (Read 39154 times)
No one can track your transaction and personal information because your personal information isn't required, unlike the reverse situation with fiat money. So Bitcoin seems to be a perfect tool for money laundering.
Of course, this is possible and so do. But also bitcoin transactions can be tracked, now it becomes dangerous to do. So it's not worth it
Crimes can convert anything of value, inluding illicit money, into Bitcoin by bartering or buying them. They can buy a large amount of Bitcoin, then transmit Bitcoins offshore and exchange Bitcoins for illegal goods and services like drugs.
Money laundering with Bitcoin is actually happening and because of that, many countries are hesitant to accept Bitcoin.
Yeah, I think the same as you. Criminals might have to suffer from the risk of Bitcoin high volatility, but compared to the riskiness of being caught, it's worth taking.
Yeah, I think the same as you. Criminals might have to suffer from the risk of Bitcoin high volatility, but compared to the riskiness of being caught, it's worth taking.
I have not tried to launder dirty money through crypto currency, because I do not understand the process. I tried to penetrate for a long time, but it did not work out. But I think this is a very real process.
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?
What are your thoughts?
Money laundering thru Bitcoin currency investment was already happening in which many are already caught and this is the main reason on why some nations won't adapt this investment.This is also one of the reason on why regulation and KYC are created to ensure that Bitcoin cannot be use in illegal activities such as this money laundering activity, smuggling and scam projects that are using the Bitcoin platform too.
one of the reasons why many nations still have not legalized bitcoin because they do not want to be one of the money laundering investments for corrupt officials because they can not supervise the finances like my bank thinks this is one of the wrong assumptions because money launderers keep doing so many ways to make their money not detected even though bitcopin remains unlawful
There are lots of cases like this wherein they can put there money on banks instead they convert it to Bitcoin, and make movement through it. But officers and other officials are observing they are caught one at a time, so careful also when you earn big and careful when you cash out you might be accused--- be ready for your documents
I do not think so. Satoshi Nakamoto created bitcoin with the principle of decentralization, transparency and privacy with high security. Bitcoin is a form of resistance to a central bank that often gives rise to corrupt or financial criminals due to the lack of transparency and the centralistic system of the banking industry itself.
Bitcoin is a money laundering tool for criminals because it has such great features as:
- Anonymity: Although transactions are public, the Bitcoin address owner is not explicitly identified.
- Liquidity: Bitcoin holders can quickly convert Bitcoin to cash, gold or other assets at extremely low costs without the need for a third party to process and process the transaction.
- Confidentiality: Almost every transaction inspection process is not applicable to the Bitcoin system.
- High value: Not affected if inflation occurs, Bitcoin prices continue to grow over time.
- Network connection: Bitcoin transactions are encrypted through the Internet. This is the stalking environment of hackers.
- Anonymity: Although transactions are public, the Bitcoin address owner is not explicitly identified.
- Liquidity: Bitcoin holders can quickly convert Bitcoin to cash, gold or other assets at extremely low costs without the need for a third party to process and process the transaction.
- Confidentiality: Almost every transaction inspection process is not applicable to the Bitcoin system.
- High value: Not affected if inflation occurs, Bitcoin prices continue to grow over time.
- Network connection: Bitcoin transactions are encrypted through the Internet. This is the stalking environment of hackers.
Bitcoin bypasses the banking system. It turns out that bitcoin is a terrible tool for money laundering. This is because bitcoin are not linked to a persons identity and only depends on a private key connected to the persons account. There is no record keeping mechanism
To do this, there are many other coins using anonymity, but if anyone wants to launder money through bitcoin, then he will have no problems, there would be a desire!
Bitcoin is like a utopia for money launderer's. Because of the one of the characteristics of bitcoin which able your transactions not to be traced back, I think this is the main reason why it is susceptible to money laundering.
Yeah, it is possible to launder money through bitcoin. Bitcoin greatly ensures the security of its users so that if we do money laundering through bitcoin then the authorities are difficult to trace. The authorities are also unlikely to know the amount of bitcoin that you have because the controls are in your own hands. Therefore, I am very disappointed if this great technology is used for negative transactions that do not provide benefits. Money laundering will only cause losses so that public confidence in bitcoin decreases as well.
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?
I think it's pretty hard to do money laundering using Bitcoin, because every official exchange forces you to do KYC. What are your thoughts?
I think even if we invest the illegitimate money into bitcoin, it will still be traceable by the authorities, because our account mutations are also in check still will be caught.
that's just my opinion
that's just my opinion
Why do you think that you can launder money only with the help of bitcoin? There are many ways how this can be done with fiat money. Bitcoin is another tool for bad guys but not the only one
Could be. But how you will do it? Are we talking about a black fiat then buying bitcoin? But first you would need to make the seller believe that you are using a legit money. It will be still hard to make it to bitcoin for those who will sell you the coins will still check your fiat money.
I agree with you because for your time it is unbelievable. I am done the interesting in people smiling one thing I only hope is the price in the future.
It is possible to launder money by bitcoin. that's why some countries banned bitcoin. Recently I was reading an article in a newspaper that in India or Bangladesh I am not sure, But They banned bitcoin for this reason.
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?
What are your thoughts?
Yes it can be used in money laundering specially bitcoin user or owners are majority annonymous it cannot be divulge the personality of the launderer except if they encash it into fiat and registered in different banks.
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