Bitcoin Laundering Less Than One Percent of All Transactions

A recent report from the joint Bitcoin analysis team of FDD and Ellicit, a bitcoin forensics company, indicates that less than one percent of all bitcoin transactions involve money laundering.

The report, written to help analyze the flow of funds and the danger of money laundering, has indicated that money laundering isn’t nearly the problem some critics of cryptocurrency believe. The report states:

“The amount of observed bitcoin laundering [is] small and darknet marketplaces such as Silk Road and, later, AlphaBay are [generally] the source of almost all of the illicit Bitcoins laundered through conversion services.”

The report also indicates that the vast majority of illicit transactions using bitcoin were processed in Europe, receiving more than five times as many illicit transactions as North America.

AML processes must improve

The report suggests that the best way to combat such illicit activity is through more stringent anti-money laundering (AML) measures. The report states that the only way to manage the illicit transaction is for “Financial authorities in all jurisdictions [to] increase AML enforcement.”

Published at Sun, 21 Jan 2018 07:12:54 +0000

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April 21, 2017

Alzheimers’ America – Where Shit Happens & Is Promptly Forgotten

zerohedge.com / by Howard Kunstler / Apr 21, 2017

Paging Doctor Oz! A patient calling itself The United States wandered into the emergency room disoriented, wearing a filthy warm-up suit, claiming it was “the greatest” this and that… but was unable to complete the nine-page admission protocol or present valid insurance ID. Patient is growing increasingly violent, threatening staff and other patients….

Nations do develop something like Alzheimers. Perhaps you haven’t noticed that for some time now nothing sticks in the national brain-pan – if that’s what we can call the news media and its analogs on the Web waves. For months, an obsession about “Russian interference in the election” raged through the left lobe of the national consciousness. Then, about a week ago, it vanished utterly. Grandpa suffered similar delusions about the Russians meddling with “our precious bodily fluids.” (Paging Doctor Strangelove.)

Not so far back as last summer, a candidate named Trump un-ironically called for “an end to endless war in the Middle East.” The oft-applied policy of “regime change,” he said, was not working out in the various US-engineered failed states such as Libya, Iraq, Somalia, Yemen, Ukraine. About two weeks ago, I seem to recall, the State Department even declared explicitly that we had no brief for regime change in the case of one Bashar al-Assad over in Syria.

Then there was something in the wifi waves about a poison gas attack. The evidence as to exactly who perpetrated it looked, how-you-say, not altogether convincing. This evidence amounted to the US Intel services, in their aggregate omniscience, asserting that, “yes, it was so that this weasel Assad bombed his people with Sarin.” Wolf Blitzer and Rachel Maddow ran so hard with the story that they vanished over the horizon.

Bitcoin Laundering Less Than One Percent of All Transactions

AML processes must improve

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