in illicit activities such as money laundering. With their decentralized nature and lack of regulation, cryptocurrencies can be an attractive option for those looking to hide illicit funds.
Money laundering is a serious global problem that affects both developed and developing countries. It involves the illegal process of concealing the origins of money obtained through criminal activities and making it appear as if it was obtained from legitimate sources.
One of the most common money laundering schemes is known as "smurfing" or "structuring." This involves breaking up large sums of money into smaller transactions in order to avoid detection.
Money laundering is a serious crime that has a significant impact on the global economy. It is a process of concealing the proceeds of illegal activities by converting them into legitimate assets.