money laundering came about before Bitcoin and will hold lengthy after it, at the same time as ever there may be a demand to move cash illicitly then a person will find a way to facilitate it, Bitcoin is simply every other channel-admittedly a greater state-of-the-art and possibly at ease technique.
Topic: Why do people need to use Bitcoin for Money laundering? - page 5. (Read 2094 times)
People use bitcoin for money laundering it because bitcoin is a good strategic for money laundering. It really hard to track and if tract the transaction you wont able to know whos addres is that why this is the best strategic
I don't really think it's a "need". People use bitcoin because it's a very useful option for money laundering because of it's anonymity. It will be hard to go after money launderers at this time.
People use bitcoin for money laundering it because bitcoin is a good strategic for money laundering. It really hard to track and if tract the transaction you wont able to know whos addres is that why this is the best strategic
Between 2004 and 2010, HSBC laundered Billions of Dollars for the Mexican Drug cartels and nobody blinked an eye. After
7 years of doing this, they got busted and they paid US$1.9bn in fines. {This could be recovered in profits, within a few
weeks} Most people saw this as a slap on the wrist for the people who were involved with this. Not one person working for the
Bank got jail time for doing this.
https://observer.news/featured/5-years-ago-hsbc-fined-record-us1-9bn/
Ross Ulbricht, was sentenced to life in prison without parole for creating and running Silk Road, which allegedly facilitated
the sale of $250 million worth of drugs.
Why are we seeing such double standards, when Bitcoin is involved?
Why wouldn't they? It's a lot easier than most of the traditional methods such as casinos imo. 7 years of doing this, they got busted and they paid US$1.9bn in fines. {This could be recovered in profits, within a few
weeks} Most people saw this as a slap on the wrist for the people who were involved with this. Not one person working for the
Bank got jail time for doing this.
https://observer.news/featured/5-years-ago-hsbc-fined-record-us1-9bn/Ross Ulbricht, was sentenced to life in prison without parole for creating and running Silk Road, which allegedly facilitated
the sale of $250 million worth of drugs.
Why are we seeing such double standards, when Bitcoin is involved?
Clearly the primary reason is on the grounds that bitcoin is way less demanding, less expensive and furthermore its harder to follow than utilizing managing an account framework.
All because the bank has more connections. That's life. Connections and money solve a lot. And I think that bitcoin has nothing to do with it. It's different.
There is a simple answer to this question. Bad people will always try to exploit everything for their benefits. People like them are the reason some people call for the ban of cryptocurrency. I hope that the authorities find a way to stop such actions in the future to maintain the integrity of cryptocurrency world.
Annonism is the biggest motivation. And this is almost the only one of the options in the whole to transfer money and stay, without anyone knowing it. People do not want to show their money to everyone, so they use this method for all 100.
the reason is simple, because it is untraceable, no one knows who owns the wallet that most of the huge funds of crypto is, with such feature it is giving people the impetus to use it for shady deals and money laundering
In its use, Bitcoin has privacy for its users. And again Bitcoin cannot be regulated by the government of a country. It makes sense why many people are not responsible for using Bitcoin for money laundering.
Not much privacy, really. Using bitcoin you are constantly leaking vital information such as IP addresses, photos and video in CCTV, KYC here and there, usernames and email addresses where KYC don't apply, all those electronic traces make it really easy for a dedicated law enforcement officer to track you down. If they want hard enough. 
In its use, Bitcoin has privacy for its users. And again Bitcoin cannot be regulated by the government of a country. It makes sense why many people are not responsible for using Bitcoin for money laundering.
Because bitcoin deals are anonymous. You will not know who you are dealing with. Criminals have taken advantage of this disadvantage to money laundering. There are a lot of uses of bitcoin to wash illegal coins.
Money laundering is a problem in general for governments. Bitcoin is just another conduite for it to happen. The big advantage that Bitcoin has is the anonymity and security of transactions. Unless Bitcoin is centralised and controlled (which by design it can't) then Bitcoin will be a popular choice for money laundering.
In fact, some people take advantage of, because Bitcoin is easy to make money laundering. Not only money laundering, but various kinds of immoral acts happen in the middle of it. Because it does not have any identification of donor and recipient. The reason for which is easy.
Because Bitcoin or cryptocurrency uses technologies like Blockchain. They can hide all personal information of the user. Bitcoin cannot be controlled by banks or governments when transferring money or doing anything. Criminals or Mafia gangs in countries like Russia or Japan have been using this method of money laundering for a long-time.
Because any Internet-connected computer can make point-to-point bitcoin transfers, the flow of funds depends only on the network and does not need to be through third-party agencies such as banks, so it cannot be regulated at all.
So BTC is used by many people for illegal transactions!
So BTC is used by many people for illegal transactions!
because bitcoin is anonymous, and it's hard to track to find out who is doing it. there is only a wallet address, and I think the government will find it difficult to track it down.
BTC transaction are not tracable.So people use it to illegal activies.
Bitcoin built on the Blockchain platform, and this is an excellent anonymous system. That is why the use of Bitcoin in money laundering. In particular, you can use Bitcoin for a lot of services at the deep web and the illegal trade uses it as a form of payment.
Well, I think it is wrong to use the word 'need' here. Money laundering has been here before the advent of Bitcoin. People who engage in money laundering have been doing this successfully using fiat or precious ornaments as their mode of payment. So money laundering does not necessarily need Bitcoin. Bitcoin transactions are mostly anonymous yet it doesn't condone crime. The affiliation of Bitcoin to crime situations is facilitated by people who are against Bitcoin like banks and the government. So it's just a blackmail against Bitcoin.
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