Strategic Analysis on Virtual Assets

The emergence of virtual currency is a technological innovation specific to the financial industry. While it has a potential to benefit in many ways, it can also create opportunities for criminals as an avenue to launder ill-gotten funds or finance terrorist activities.

Based on a review on a sample of Suspicious Transaction Reports (STRs) and Suspicious Activity Reports (SARs) received from the relevant Reporting Entities ‘Virtual Asset Service Provider(s)’, this report identifies the most common techniques used by criminals to launder funds or perpetrate illicit activities through Virtual Currencies.

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