Criminals hide 'billions' in crypto-cash - Europol

Feb 12, 2018 · bbc.com

 99980866 709e3e98 ca19 4626 bdaf e122329ec986

Three to four billion pounds of criminal money in Europe is being laundered through cryptocurrencies, according to Europol.

The agency's director Rob Wainwright told the BBC's Panorama that regulators and industry leaders need to work together to tackle the problem.

The warning comes after Bitcoin's value fell by half from record highs in December.

UK police have not commented to the programme.

Mr Wainwright said that Europol, the European Union Agency for Law Enforcement Cooperation, estimates that about 3-4% of the £100bn in illicit proceeds in Europe are laundered through cryptocurrencies.

"It's growing quite quickly and we're quite concerned," he said.

There many different types of cryptocurrencies but the best known is Bitcoin. They are intended to be a digital alternative to pounds, dollars or euros.

However, unlike traditional currencies, they are not printed by governments and traditional banks, nor controlled or regulated by them.

Read Complete Article

RT @FrenchTechLON: Daley Pritchard, Head of Talent Acquisition @WorldFirstUK, helps businesses scale by transforming their hiring & engagem…

Carrying a knife won’t keep you safe. #LondonNeedsYouAlive #LNYA https://t.co/2w2zUUukwp

DeepMind using powerful #AI to spot eye disease in partnership with @Moorfields https://t.co/fohhfeFt24 #HealthTech #MedTech

MWC: Cat S61 rugged flagship announced with enhanced thermal imaging, laser distance measuring, and air https://t.co/djketrqQQ0 by @palmsolo

.garyturner Xero on how you can find, hire and retain the best talent for your technology business https://t.co/wpyxmotw8H

Tech.London Weekly

×