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Dutch Investigators View Digital Currency Tumblers as Red Flag for Money Laundering

By Paul Peachey

Dutch prosecutors are pursuing as many as 15 cases against individuals suspected of using digital currencies and "tumblers" to conceal the flow of illicit proceeds between online black markets and the mainstream banking system, according to a senior official. The investigations were launched after multiple banks separately filed suspicious activity reports on several high-value transfers of euros that allegedly had been converted from bitcoins by secret digital-currency exchanges, Dutch prosecutor Anita van Dis-Setz told ACAMS moneylaundering.com. Law enforcement also determined that many of the bitcoins in question were moved through digital-currency "tumblers," also known as "mixers," to jumble and obscure...

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