Dirty money: Crypto v Banks

Tessa DempsterNovember 6, 2018
Crypto currency second to Banks in Money Laundering

The crypto market has aired its dirty laundry and as it turns out it’s ‘cleaner’ than traditional banks – on the laundering front at least.

According to a report by the United Nations Office on Drugs and Crime, in the last 24 months banks have reportedly laundered US$2.7 billion.

In contrast, the crypto market has laundered US$1.8B in the same period according to a recent report by CipherTrace.

Despite the negative perception of dirty money in crypto, the CipherTrace report revealed banks laundered US$1.97 trillion more in the space of two years.