Currencies - A new umbrella for suspicious transactions and money laundering worldwide

Abdulaziz Al-Zughaybi from Riyadh
Virtual currencies have become a haven for suspicious business owners, cybercriminals, drug dealers and corruption cases, after recent e-piracy by the ransom virus has shown the perpetrators of these crimes are committed to transferring money in virtual currencies.
Analysts attributed the fact that the perpetrators of cybercrime and even money launderers of these currencies, the difficulty of tracking and lack of centralization and widespread, in addition to a new feature was added to the acceptance of the payment currency in the largest electronic stores.
Notably, major stores and companies, including Microsoft, have accepted digital currency trading and have made it easier for customers to buy through their "pettecone" assets, although many countries still prohibit their dealings.
The jurists assert that some criminal organizations have devised a dollar-based swap method and rely on replacing the balances of digital funds illegally obtained through electronic penetration or fraudulent dollars from people who wish to speculate in the currency of "minting".

"Digital currencies, especially petuneen, have become a haven for anonymous money laundering by organizations that seek to hide the gains of their crimes through an uncensored security currency," said Ali Al-Omrani, head of technology and development at a Saudi bank. In financial transfers by dealers is similar to tax evasion, which is a crime in the law of several countries, in addition to evading financial obligations towards the state.
He explained that the currency of "Bettkwin" in its current form makes it a currency unsuitable for use or dependence because of the loss of centralization and tracking, explaining that the absence of means to maintain the price of the currency loses the essence of the official currency and because it is unstable and the absence of central management makes them extremely dangerous, For optimism because it is a speculative instrument because of lack of control over it.

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An article from the economic newspaper