How is money laundering possible in crypto?

[rekter 8129]

On 1/5/2020 at 9:17 AM, Jalil Baloch said:

I have come to know that, capital present crypto has been accused for money laundering and has been sent to jail by polish government.

Isn't this pretty much similar when you don't have the source of the money and you put in into your bank account? The problem with money laundering is that you should have a fake source for your money and with blockchain you can track literally every transaction.

 

Only thing that makes money laundering possible is that no one wants to track your tansactions

[Investors Blog 385]

On 1/5/2020 at 3:17 PM, Jalil Baloch said:

I have come to know that, capital present crypto has been accused for money laundering and has been sent to jail by polish government.

Sad to say this is a reality, Bitcoin could be used for illegal activities since its untraceable by nature and its being taken advantage by corrupt people to move their money without government intervention.

[Sid 589]

I think because the crypto currency is anonymous, which is difficult to trace so it is suitable for money laundering. This is what makes the government vigilant with bitcoin

[Fattkidd 1852]

On 1/5/2020 at 3:17 PM, Jalil Baloch said:

I have come to know that, capital present crypto has been accused for money laundering and has been sent to jail by polish government.

For the people who trust easily will get scam crypto is very hard to traces even for the goverment because its decentrelized plus its easy to fool people using fake site like earned.site which promise there user to double there coins.

[Laboni 755]

33 minutes ago, Anik dj said:

the  way so if anyone sends large number of money you can only see the address and amount that's it’s. finished 

It is possible to spend money if we give our details from the address and the quantity seen. In addition to working on crypto, many people hack our ID.

[suzuya 945]

It is possible for laundering to happen with the use of crypto, because crypto is also money so people can still use it for laundering. People can do anything with everything even it was invented for good, they're still going to use it in illegal activities.

[Ms.o 3322]

It is possible in crypto currencies,this is the reason why some government doesn't legalise crypto its because it can be use in this kind of crime. Or any thing that involved money as transaction in crypto can be done by two people only and through online,so no one can knows if this transactions are legal or illegal.

[Sumayya 493]

They lure people and change their thoughts by promising them a lot of money in return for their investment

[Razan alikac 1899]

Money laundering is very possible, whether in real money or crypto currencies, and whoever does this deserves punishment

[duncun007 3577]

23 hours ago, wilbertson said:

It's not just possible it is easier and safer, but recently there have been many arrests for money launders in cryptocurrency.

i think if you play your cards right you will never be caught while doing this, a lot of people are laundering their money in crypto and thats why we sometimes see coins go 1000% in a day and dump.

[Rickso 768]

On 1/5/2020 at 8:17 AM, Jalil Baloch said:

I have come to know that, capital present crypto has been accused for money laundering and has been sent to jail by polish government.

when you buy cryptocurrencies with fiat you have to pass the know your customer procedure, that every exchange do for this type of exchange.

 

doing that they know your identity and you address that you used to withdraw your coins. since the blockchain is public and since the know your address they can all your future transactions

[mskhatri24 299]

As we know that cryptocurrency is decentralize currency and there is no center system which manage it and government ask for information to it, so it easy for people, who are involve in money laundering to hideout themselves as we can't track transction id or account holder.

[guatazoo 7150]

11 minutes ago, Shantods said:

As no one controls crypto currencies also due to decentralized system it cant be tracked.So its To easy For lundering

It is said that bigger exchanges are involved knowingly with the money laundering.

[Imaankhan 208]

On 1/5/2020 at 12:29 PM, auiwrb4 said:

Money laundering is easy using cryptocurrency. Because no one controls, no government or organization can control cryptocurrencies, which is why governments do not like cryptocurrencies.

Yes i think you are right money laundering is very much possible in crypto world and to be on safer side most governments do not allow it.

[zhaazure27 524]

On 1/5/2020 at 3:17 PM, Jalil Baloch said:

I have come to know that, capital present crypto has been accused for money laundering and has been sent to jail by polish government.

I also still do not know how and how to do money laundering using bitcoin? Or maybe because I do not know in detail about this.

[Krisdan 1]

Since the transactions cant be monitored people can send buy and send any amount of btc they want without getting caught or questioned

[tienda 8776]

The money laundering exist from years and years before the creation of cryptocurrency and peoples launder the money with fiat money but yes with difficult and with low volume, but now because the cryptocurrency decentralized and no one can track is very easy and anyone can do that.

[Darkelf11 262]

On 1/5/2020 at 3:17 PM, Jalil Baloch said:

I have come to know that, capital present crypto has been accused for money laundering and has been sent to jail by polish government.

Maybe because that it illegal on that country. If laundering money, or are you referring on cryptocurrencies? If so, if laundering cryptocurrencies in that country, you should just follow the law. Maybe they do know what they are doing, it's for the sake of the country. The time will come that they will support cryptocurrencies.

[Darkelf11 262]

On 1/5/2020 at 3:17 PM, Jalil Baloch said:

I have come to know that, capital present crypto has been accused for money laundering and has been sent to jail by polish government.

It is possible because there are bodies that are governing or managing it for the launderers also for those who wanted to borrow some crypto. It is simply allowing one's to borrow some of your crypto, of course you have an interest for that, and that will depend on the length of loan payment. Commonly a year. Those sites that offers that also gets some interest from it. 

[mani982 286]

In crypto the big issue is that money laundering is easly possible we can send and receive huge amount t of funds without any involvement of government and can sent and receive  in any country of the world.

[Abiaan 1209]

it is very possible way to launder your money here on crypto because you cant be tracked, crypto is fully encrypted , even if you send your crypto to other then s/he never know who sent it , crytocurrencies are best way to launder your money, no one know where your money is flowing

[Romaan1987 601]

On 1/5/2020 at 12:17 PM, Jalil Baloch said:

I have come to know that, capital present crypto has been accused for money laundering and has been sent to jail by polish government.

Money laundering is actually highly possible in crypto currencies. And also crypto currencies are being used in darkmarket also. The major thing is that it works on anonymous platform and could not be easily tracked. That is the big flaw in crypto market which stops it to being adopted by many of governments.

[thiscomm 306]

On 1/5/2020 at 2:17 PM, Jalil Baloch said:

I have come to know that, capital present crypto has been accused for money laundering and has been sent to jail by polish government.

I do not agree with the accusation. maybe the thing in question is hacking that happened there. because in my opinion only hackers can take crypto on the exchange. in my opinion there are crypto users who use crypto there as a media transaction for payment of illicit businesses that may have hurt the country.

[Sapdrx 469]

Yeah how does this work actually. You need a regular bank account to buy crypto. In the bank they do ant-money laudring scans. I thought money laundring mainly works with cash.

[Rstunirk 151]

Money can be definitely laundered in cryptocurrencies as they are decentralized and minion gearshift them or they tin be on familiar terms with in order about the cash and its spring