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British Crime Syndicate Reportedly Turning to Gold Laundering for Harder-to-Trace Transactions, But Evidence Remains Limited
Summary: According to reports, organized crime syndicates in the UK are increasingly laundering money by purchasing gold coins, bars, or grains to avoid the traceability of cryptocurrencies. Some cases have shown drug traffickers converting tens of thousands of dollars in profits into gold to conceal their activities. However, compliance agencies like TRM Labs point out that ...
According to reports, organized crime syndicates in the UK are increasingly laundering money by purchasing gold coins, bars, or grains to avoid the traceability of cryptocurrencies. Some cases have shown drug traffickers converting tens of thousands of dollars in profits into gold to conceal their activities. However, compliance agencies like TRM Labs point out that there is currently a lack of concrete data to suggest that gold laundering is becoming a trend, with most related evidence being isolated cases. In comparison, despite the fast and cross-border movement of crypto assets, their on-chain activities are still more traceable. (Decrypt)
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Link: British Crime Syndicate Reportedly Turning to Gold Laundering for Harder-to-Trace Transactions, But Evidence Remains Limited [Copy]
