Published on November 19th, 2015 | by bitcoin0
UK Treasury Claims Using Digital Currencies can Lower Money Laundering Risk
Digital currencies were deemed a “low” risk for money laundering and terrorism financing in a report published last month by the UK government.
In a National Risk Assessment released 15th October by HM Treasury, the government said that digital currencies present the lowest risk rating among money laundering vehicles, a list that also includes cash, banks and accountancy services.
“The money laundering risk associated with digital currencies is low, though if the use of digital currencies was to become more prevalent in the UK this risk could rise,” the report states.
According to the report:
“There are a limited number of case studies upon which any solid conclusions could be drawn that digital currencies are used for money laundering.
Further, there appears to be few indications that digital currencies are being used by money laundering specialists working on behalf of ‘traditional’ criminal groups.