Bitcoin: Is money laundering instrument in drug trafficking?

In international drug trafficking, the popularity of Bitcoin by means of money laundering is expected to grow. This is clear from a report by the US Drug Administration (DEA).

Many are known to the American law enforcement agency DEA mainly because of their – extremely brutal – fight against the Latin American drug cartels in the 80s and 90s. Even now, the DEA is active in the international fight against drug trafficking and smuggling, but the way the agency operates has changed somewhat. For example, it has now become more and more the focus of attention on the global financial flows used to finance drug trafficking.

The fact that Bitcoin also plays a role, this is clear from the DEA’s current drug report. It sets out, how international trade in illegal drugs is organized and what measures the US government is planning to hold its funding. In this context, there is also a section on cryptocurrencies and their misuse as a money laundering instrument. It is said, for example, that the acceptance of Bitcoin, especially in the trade of illegally circulating drugs, has increased recently.


Popular basis for this type of money laundering is according to the report, Republic of China. So it should be, especially in China operating companies, that can misuse the Bitcoin. Accordingly, drug traffickers benefit from the aspect of cryptocurrency anonymity, as it makes it possible for them to bypass the control of capital flows by the Chinese government and to pursue their own business in peace.

In addition, the report highlights the relevance of over-the-counter Bitcoin brokers for international drug trafficking. Able to send Bitcoin millions of dollars across borders, they play an important role in capital flows and money laundering for criminal networks.

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Categories: Crypto Currency

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1 reply

  1. I opened an account by Bitcoin Switzerland. There they maid a hard and good compliance check. They check like a bank.
    I’m thinking that Bitcoin Looks very good and exactlliy about the Money. so it’s important which Trader and Moneymaker you take

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