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Criminal Use of Cryptocurrencies Rising, Experts Tell House Panel

By Valentina Pasquali

Criminals increasingly purchase stolen personal data off of the dark web with cryptocurrencies because of the added anonymity they afford, say industry experts. Cybersecurity researchers told members of the House Financial Services Committee on Thursday that the underground market for compromised information, including credit card, bank account and social security numbers, is rapidly growing in scope and sophistication. The financial transactions connected to the buying and selling of this sensitive data track traditional money laundering channels, moving through tax havens and banks with weak financial crime controls, James Lewis, senior vice president for the Washington D.C.-based Center for Strategic and...

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