Metaphors for money laundering (The most common way of money laundering is the use of),

08/18/2023 23:56 • Crypto & Markets • 56 views

Metaphors for money laundering Editor’s note: This article is from Crypto Valley Live (ID: cryptovalley), author: Alex Kruger, translated by: 0x137, authorized by Odaily Planet Daily for reprints.

Bitcoin and Ethereum use different terms to describe their value – they are essentially created in the blockchain network. However, this does not mean that it is a widely accepted technology or a form of technology. In other words, these digital assets are actually supported by a distributed ledger and are completely transparent and auditable networks. If someone tries to transfer their money with others and steal their funds by forging code, then this system makes no sense.”

However, there are two main reasons that make this classification unrealistic: one is the loss caused by the inability to verify and easily tamper with transaction records, and the other is the economic damage caused by fraudulent activities and conflicts of interest between insiders in exchanges, etc. . One reason may be that people think it is a scam, or to some extent a Ponzi scheme, so many people use the term “washing” as one of the references, but in fact it is not. For example, black markets are usually composed of anonymous investors, and ownership of all addresses can be traced. Therefore, in order to prove their identity, some criminals have started to use such methods to attempt large-scale illegal activities: “Suppose a company operates an office and then sends a small amount of goods and services to customers”, but this is not the case in fact. Nevertheless, the “dark web” still exists. Although some countries recognize that this statement is justified, it does not explicitly state this in certain aspects. The use of “privacy coins” (such as Tether) may confuse many users, especially those who have billions of dollars in wealth. Of course, most people are not very interested in this concept. In turn, the field also faces various challenges and risks over time. We must now understand how to properly define money laundering/terrorism financing. The following are examples:

1. Sanctions implemented by the US government require Russians and Iranians to report their online activities; 2. The US Treasury Department’s Office of Foreign Assets Control (OFAC) prohibits Russians from providing information anywhere; 3. The US Department of Justice announced the freezing of all email accounts related to North Korea.

After the ban draft issued by the Office of Foreign Assets Control (OFAC) of the United States in September 2014, OFAC decided to close the relevant websites and restart the work process in late November 2018. (Note: The US financial system will not cease to operate unless OFAC finally determines a rule.) It is reported that on October 27, 2017, The Wall Street Journal reported that “Global law enforcement agencies should take action to combat money laundering, terrorist financing, and illegal activities that undermine economic growth, and so on.”

The most common way of money laundering is the use of

The data from the Federal Bureau of Investigation (FBI) shows that over $1.2 billion was stolen between the first half of 2018 and the first two quarters of 2019, most of which was related to cryptocurrencies. The most common way of money laundering is using phishing scams. Due to the different control methods of funds in the crypto industry, there is currently no monitoring from law enforcement agencies or regulatory bodies for these illegal activities. However, historically, if someone tries to transfer funds to overseas by other means and sell them to criminals, they will be subject to hacker attacks. (coindesk)

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Metaphors for money laundering (The most common way of money laundering is the use of),

The most common way of money laundering is the use of

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