The Role of Electronic Currencies in Money Laundering


Teba Majed Hameed,



Virtual Money Laundry,Bitcoin,Transaction,Financial Monitoring,


This study investigates money laund erring due to electronic currencies like bitcoin. Currently, electronic currency is a new methodofoutgoings and eachcountryadopts in a different way how to apportion with it. Nonetheless, new technologies offer us new likelihoodsinour life for unspecifieddealings as payments for online shopping andcertainlythey canbeusedinillicit actions as in money launderingand terrorism financing. Moreover, unrecognizability is the foremost characteristics of electronic currency which aids to disappear the income source. This is the problematic issue for developed and developing countries for the reason that they should fight such at hreatas money legalizing and terrorism financing. Consequently, this paper reviews and surveys the methods of these doubtful operations that can be used for money laundering by bitcoins and how to overcome or restrict these unlawful operations technical issues.


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