Belgian authorities suspect illegal wagers made in cryptocurrencies have boomed after learning that individuals tied to match-fixing and unlicensed-gambling operations are increasingly converting bitcoins and other digital assets into government-issued banknotes. Philippe de Koster, president of Belgium's financial intelligence unit, CTIF, told attendees of an academic conference in Strasbourg, France, this month of his agency's role in combating illegal sports gambling and difficulty in identifying bribery in individual matches, and warned that cryptocurrency makes both crimes more impervious to detection. "We are seeing more people slip through cracks and launder the proceeds of manipulated sports betting [match fixing] in Luxembourg,...
COVID-19 may have crippled global trade, but a spate of arrests and seizures in Belgium show that drug trafficking and related cash flows in Europe have not stopped as a result, according to the country's financial intelligence unit, CTIF.
Belgium's financial intelligence unit, CTIF, has warned the country's prosecutors and financial institutions of a spike in suspected money laundering and fraud cases involving general partnerships, an easily formed and sparsely regulated type of corporate entity.
In an interview with ACAMS moneylaundering.com reporter Gabriel Vedrenne, Philippe de Koster, president of Belgium's financial intelligence unit, CTIF, discussed the agency's efforts to target terrorists' funds and seize assets from drug traffickers.