atlas21 on Nostr: CRYPTO - “Money launderers particularly target entities located in countries ...
CRYPTO - “Money launderers particularly target entities located in countries considered high-risk by FATF and/or lacking anti-money laundering legislation, as well as those authorized in cooperative jurisdictions that fail to fully implement regulations.”
This is according to a new document from the Bank of Italy outlining the techniques used by individuals seeking to obscure the origins of illicit funds. Money launderers specifically look for platforms that operate without conducting Know Your Customer (KYC) processes, making it more challenging for regulatory authorities and law enforcement to identify users.
In this context, the Bank of Italy raises specific concerns about services it defines as “crime-as-a-service.” One example cited is the website kycnot[.]me, which provides an updated list of P2P platforms operating without KYC checks.
https://atlas21.com/bank-of-italy-p2p-services-are-criminal/
This is according to a new document from the Bank of Italy outlining the techniques used by individuals seeking to obscure the origins of illicit funds. Money launderers specifically look for platforms that operate without conducting Know Your Customer (KYC) processes, making it more challenging for regulatory authorities and law enforcement to identify users.
In this context, the Bank of Italy raises specific concerns about services it defines as “crime-as-a-service.” One example cited is the website kycnot[.]me, which provides an updated list of P2P platforms operating without KYC checks.
https://atlas21.com/bank-of-italy-p2p-services-are-criminal/