Internet Money Laundering Will Change Banking Forever


August 2 2017

It’s not just the frequency of new cyberattacks or the persistent, morphous nature of the attack vectors themselves that is astonishing. We are now beginning to see the way in which cyber technology is transforming our entire lawless ecosystem into a new, fascinating and frightening display of criminal behavior — not hiding within the shadowy confines of the dark web, but rather right out front, in broad daylight.

One stunning example is the way that e-commerce is being used to launder stolen capital. As Internet innovation has become a global reality, criminals have elected to simply use the web as a front for every form of online fraud, such as illegal internet gambling payments, illegal drug transactions, and terrorist funding.