International Financial Transactions and Cryptocurrency Laundering: A Global Concern

China Instrumental in North Korean Crypto Money Laundering

A recent investigation has uncovered the significant role of Chinese underground banking networks in enabling cryptocurrency-related crimes globally. The findings highlight the complexity and international reach of crypto-enabled criminal enterprises, emphasizing the challenges in addressing this issue.

Chinese underground banking systems have been found to facilitate illicit cryptocurrency transactions, providing essential services to criminal organizations seeking to obscure the origins of their digital assets. This has allowed entities like North Korea’s Lazarus Group to successfully launder funds acquired through cyber heists.

Source: https://fullycrypto.com/china-instrumental-in-north-korean-crypto-money-laundering?utm_source=rss&utm_medium=rss&utm_campaign=china-instrumental-in-north-korean-crypto-money-laundering