Japanese Criminals Embrace Cryptos for Money Laundering

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May 16 2018

Organized crime groups in Japan are quickly adopting cryptocurrencies to launder money and conduct other criminal activities because of the anonymity digital assets provide. The local authorities are virtually helpless to deal with them because of different regulations across international jurisdictions.

An investigative report by Mainichi Shimbun has confirmed several transactions since 2016 involving a Chinese individual and members of a Japanese organized crime group.