Mexican Drug Cartels Are Using Bitcoin to Launder Money
The International Narcotics Control Board released at the end of last week a report expressing concern that Mexico’s drug cartels were using Bitcoin.
The researchers found that criminal communities from Jalisco and Sinaloa are increasingly using cryptocurrencies in their financial schemes.
According to experts, transactions are carried out with small amounts of BTC in order to complicate control by law enforcement agencies. BTC is then used for international transfers between cartel members.
According to the report of the committee, Bitcoin allows such structures to annually launder about $25 billion.
The analysts behind the project have also pointed to the use of cryptocurrencies in other criminal business, for example, trafficking in weapons or people. Bitcoin is present in many schemes for financing such activities.