Fintrac has updated the strategy for the fight against laundering through cryptocurrency money received from drug trafficking. The center experts have identified several laws that can signal the use of digital assets in the sale of narcotic drugs.
For example, large converting cryptocurrencies into fiat money with the participation of recently created accounts while using several virtual wallets. Fintrac specified that such a scheme is used by criminals to conceal the origin and movement of cryptotrazazations before the means are cashed or displayed abroad.
In addition, with the assistance of the administrations of cryptocurrency exchanges, the Center intends to track the movement of deposits in accounts related to regions with a high level of risk or previously marked as suspicious.
Earlier, the British Colombian Securities Commission ordered the founder of the EZBTC cryptocurrency platform David Smillie (David Smillie) to pay $ 18.4 million for the deception of investors and fraud with digital assets.
Source: Bits

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