Terrorists Using Crypto-Currencies

“Donate anonymously with Cryptocurrency” and that’s the issue as the appeal is often coming from ISIS and other jihadists typically through the message app Telegram.

Money laundering laws world wide have increasingly been focusing on “know your customer” and trying to peek behind cloudy entities who move funds around the world to finance or clean ill-gotten gains.

And while the Bitcoin transaction is visible on the blockchain, other crypto-currencies are not so and the terrorists are exchanging their digital assets to fiat currencies “transmitted to a linked debit card, credit card, or bank account, available for cash withdrawal at an ATM.”

https://www.wsj.com/articles/jihadists-see-a-funding-boon-in-bitcoin-1519131601

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About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
This entry was posted in accredited investor, balance, Banks, CFTC, checkbook, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, deposits, discrepancies, fraud, Funding Portals, review, SEC, technology, VC, Venture Capital and tagged , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

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