Japanese police: Alleged crypto-money laundering tenfold

the number of suspicious crypto-payments in Japan has increased tenfold in the past year. This is the most recent money laundering report by the Japanese police authorities reported. In spite of the rapid rise in crypto-transactions are, however, only a fraction of the Transfers that are suspected of money laundering. The majority of non-registered funds changes in bar the owner.

By David Barkhausen
At the 1. March 2019BTC$EUR 3,829 97 -0.06%part Facebook Twitter LinkedIn xing mail

fraud, theft, drug trafficking – the anonymity of crypto-currencies attracts since ever, Criminals want to hide their financial dealings. This Potential of Bitcoin & co. seem to have these days, especially Japanese money launderers are detected, and How the local newspaper Japan Times on Thursday, the 28. February, has reported a tenfold increase in the number of suspected crypto-transactions in the East Asian Islands in the past twelve months.

After Japan had been plagued in recent years by a series of Hacks and digital Bank robbing, had obliged the competent authorities of the Japanese stock exchanges in April 2017, to list all of the transactions and to report suspicious payments.

the police reported for the year 2018 of more than 7,000 cases of suspected money laundering in connection with crypto-currencies. These are over 6,300 suspected cases more than the year before. Between April and December 2017, the Japanese police had recorded 669 suspicious crypto-payments.

On the track, the officials were attracted to in the past year, among other things, that numerous Accounts have used the same profile photos. Furthermore, a large number of Accounts would be managed in spite of Japanese registration from abroad, the report said.

the response of The Japanese authorities: expert training and KI

Despite the dramatic bill of the rise, the authorities, with a view to the crypto-sector is little concerned. Because much of the may be illegal in the circulation of money in 2018, moved to bar the owner.

Read also: Bitcoin ETF: Made in Japan

So the authorities report for the year 2018, a total of 417.465 suspected cases for money laundering, most of which in the area of banking and financial fraud. Crypto payments are made, however, with around 1.7 percent, only a fraction of these cases. to meet

the Trend, do not want to set the Japanese authorities are now data-only specialists. In addition, Artificial intelligence is, according to the Japan Times. So we want to be sure to recognize the payment patterns of illicit transactions early and prevent further money laundering boom.

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