Europol, Interpol Unite to Combat Bitcoin Money Laundering

In an effort to tackle money laundering through virtual currencies like bitcoin, two prominent law enforcement agencies – Europol and Interpol have announced the establishment of a working group.
An announcement from late last week has confirmed the establishment of a new working group looking into money laundering with digital currencies.
The group is established through a tripartite partnership between Europol – the criminal intelligence agency of the European Union; INTERPOL, a prominent intergovernmental organization that facilitates international police cooperation and; the Basel Institute on Governance, an independent and non-profit think tank.
Noting that digital currencies are ‘already transforming the criminal underworld’, a press release by Europol stated:
There is a clear consensus that digital currencies pose a money laundering and terrorism financing threat.
The consensus comes despite a report from a Europol report from January 2016 that there was no confirmed evidence of bitcoin or other digital currencies used to finance terrorists’ activities.

This post was published at Crypto Coins News on 12/09/2016.