CRYPTO-CURRENCY WORLD MORPHS AND DEVELOPS NEW AML/CFT RISKS AS TI CHANGES
October 2nd, 2021
Cryptocurrency innovation is moving fast, with AML/CFT-oriented financial institutions and law enforcement struggling to keep up as criminals exploit the system through newer technology such as decentralised finance and anonymous privacy coins.
The use of cryptocurrencies is surging, and is increasingly being adopted in more, often unregulated, markets. In September (2021), more users based in sub-Saharan Africa acquired cryptocurrencies than in North America, according to crypto analysis firm UsefulTulips. (1)
But while use is rising, so are the means to ...
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