In the European Union by means of a cryptocurrency is laundered annually about 4 to 5.5 billion dollars obtained illegally, said the head of the EU police service (Europol) Rob Wainwright (Rob Wainwright) in an interview with the BBC.
The total amount of illegal income in Europe, he said, is 100 billion pounds, of which about 3-4% washed using cryptocurrency.
The police are facing difficulties in trying to track such cyber criminals and even if you manage to identify the transaction parties, the assets to withdraw very difficult:
«Such transactions do not occur in banks governed by the Central authority, so keep track of the transaction extremely difficult. Even when it is established that the transaction has committed, the criminals, freezing or seizure of assets, as is done in the framework of the conventional financial system almost impossible.»
Most often the illegal profits are converted into bitcoins, which are then sent to the people, whose connection with the underworld at first glance not obvious. Further, the reverse exchange of cryptocurrency for cash, and go back to the criminals.
Wainwright added that the police is fully aware of the billions of dollars of income from the sale of drugs that are converted into bitcoin, and urged companies providing services to withdraw cryptocurrency to Fiat, to assist the police.
That about 1% of bitcoin transactions used to launder illegally acquired funds, noted in the report, provided by the American organization Foundation for Defense of Democracies jointly with the analytical company Elliptic. The report also said that the number of illegal transactions in North America, five times less than the number of such transactions in Europe.