{"id":11562,"date":"2022-02-07T14:28:25","date_gmt":"2022-02-07T14:28:25","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021"},"modified":"2022-02-07T15:17:14","modified_gmt":"2022-02-07T15:17:14","slug":"money-laundering-via-cryptocurrencies-up-30-in-2021","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021","title":{"rendered":"Money laundering via cryptocurrencies up 30% in 2021"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>YOUSEF CHOUDHRI<\/p>\n

MONEY laundering via cryptocurrencies increased last year by 30% and is estimated to have accounted for US$8,6 billion, claims a report recently published by blockchain analysis firm Chainalysis.<\/p>\n

Although only 0,05% of all cryptocurrency transactions worldwide are linked to the laundering of money, Europol says it could get much worse in the future.<\/p>\n

Criminals are becoming more sophisticated in their use of cryptocurrency transactions and their money laundering schemes are becoming increasingly complex, the European police agency said.<\/p>\n

The Chainalysis report indicates the origin of money being laundered to stem from darknet sales and potential ransomware attacks.<\/p>\n

Cryptocurrency transactions are supposed to offer significant transparency as each transaction is logged in a blockchain, allowing a paper trail of transactions to be made available as a digital ledger.<\/p>\n

However, the rise of so-called decentralised finance (DeFi) has led to potential misuse.<\/p>\n

DeFi converts cryptocurrencies into other coins and currencies, which inevitably makes the transaction trail increasingly difficult to trace. As a result, this has become favourable for money launderers as it leaves a cold trail.<\/p>\n

Recent high-profile cryptocurrency scams, including the recent breach on the trading platform crypto.com, have been found to use DeFi services such as Tornado Cash because they complicate the transaction trail.<\/p>\n

Though Tornado Cash is legal for mixing Ethereum blockchain transactions, its application reduces the transparency with each transaction.<\/p>\n

\u201cPrivacy is not criminal but criminals are seeking these privacy solutions,\u201d said Victor Fang, founder and chief executive officer of blockchain analytics company Anchain.AI. \u201cThis is the tip of the iceberg, the beginning of the future we’re going to see play out.\u201d<\/p>\n

The Chainanalysis report suggests that most illicit cryptocurrency transactions are currently concentrated on a small number of DeFi services. Therefore, identifying and targeting these services using law enforcement resources could cripple the potential for crypto money laundering in the future.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. YOUSEF CHOUDHRI MONEY laundering via cryptocurrencies increased last year by 30% and is estimated to have accounted for US$8,6 billion, claims a report recently published by blockchain analysis firm Chainalysis. Although only 0,05% of all cryptocurrency transactions worldwide are linked to the laundering of money, Europol says it could get much worse […]<\/p>\n","protected":false},"author":84,"featured_media":11560,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,236,233],"class_list":["post-11562","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nMoney laundering via cryptocurrencies up 30% in 2021 - Namibia<\/title>\n<meta name=\"description\" content=\"YOUSEF CHOUDHRI MONEY laundering via cryptocurrencies increased last year by 30% and is estimated to have accounted for ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Money laundering via cryptocurrencies up 30% in 2021\" \/>\n<meta property=\"og:description\" content=\"YOUSEF CHOUDHRI MONEY laundering via cryptocurrencies increased last year by 30% and is estimated to have accounted for ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-07T14:28:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-07T15:17:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/02\/img-620137de05046.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"499\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Money laundering via cryptocurrencies up 30% in 2021\",\"datePublished\":\"2022-02-07T14:28:25+00:00\",\"dateModified\":\"2022-02-07T15:17:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021\"},\"wordCount\":325,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/02\/img-620137de05046.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021\",\"name\":\"Money laundering via cryptocurrencies up 30% in 2021 - Namibia\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/02\/img-620137de05046.jpg\",\"datePublished\":\"2022-02-07T14:28:25+00:00\",\"dateModified\":\"2022-02-07T15:17:14+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"YOUSEF CHOUDHRI MONEY laundering via cryptocurrencies increased last year by 30% and is estimated to have accounted for ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/02\/img-620137de05046.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/02\/img-620137de05046.jpg\",\"width\":750,\"height\":499,\"caption\":\"Money laundering via cryptocurrencies up 30% in 2021\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/namibia\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Money laundering via cryptocurrencies up 30% in 2021\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#website\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/\",\"name\":\"Namibia\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/namibia\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Money laundering via cryptocurrencies up 30% in 2021 - Namibia","description":"YOUSEF CHOUDHRI MONEY laundering via cryptocurrencies increased last year by 30% and is estimated to have accounted for ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021","og_locale":"en_US","og_type":"article","og_title":"Money laundering via cryptocurrencies up 30% in 2021","og_description":"YOUSEF CHOUDHRI MONEY laundering via cryptocurrencies increased last year by 30% and is estimated to have accounted for ...","og_url":"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021","og_site_name":"Namibia","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2022-02-07T14:28:25+00:00","article_modified_time":"2022-02-07T15:17:14+00:00","og_image":[{"width":750,"height":499,"url":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/02\/img-620137de05046.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Money laundering via cryptocurrencies up 30% in 2021","datePublished":"2022-02-07T14:28:25+00:00","dateModified":"2022-02-07T15:17:14+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021"},"wordCount":325,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/02\/img-620137de05046.jpg","keywords":["africa press","Africa Press-Namibia","namibia"],"articleSection":["all news","economy","homepage-english","twitter"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021","url":"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021","name":"Money laundering via cryptocurrencies up 30% in 2021 - Namibia","isPartOf":{"@id":"https:\/\/www.africa-press.net\/namibia\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/02\/img-620137de05046.jpg","datePublished":"2022-02-07T14:28:25+00:00","dateModified":"2022-02-07T15:17:14+00:00","author":{"@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"YOUSEF CHOUDHRI MONEY laundering via cryptocurrencies increased last year by 30% and is estimated to have accounted for ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021#primaryimage","url":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/02\/img-620137de05046.jpg","contentUrl":"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/02\/img-620137de05046.jpg","width":750,"height":499,"caption":"Money laundering via cryptocurrencies up 30% in 2021"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/namibia\/all-news\/money-laundering-via-cryptocurrencies-up-30-in-2021#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/namibia\/"},{"@type":"ListItem","position":2,"name":"Money laundering via cryptocurrencies up 30% in 2021"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/namibia\/#website","url":"https:\/\/www.africa-press.net\/namibia\/","name":"Namibia","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/namibia\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/posts\/11562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/comments?post=11562"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/posts\/11562\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/media\/11560"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/media?parent=11562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/categories?post=11562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/namibia\/wp-json\/wp\/v2\/tags?post=11562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}