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.
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.
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.